paint.setColor is darker than actual value.

I am circular border using the below Paint object using color code "#D63333". I noticed that the border which gets created is darker than other images where I apply the same color code. Paint has a default black color and I am guessing somehow these are getting multiplied ?

How can I preserve the purity of the color.

    Paint borderPaint = new Paint();
    borderPaint.setStyle(Paint.Style.STROKE);
    borderPaint.setStrokeWidth(5);
    borderPaint.setColor(Color.TRANSPARENT);
    borderPaint.setColor(Color.parseColor(color));