India's paint makers gain on drop in crude prices

Berger Paints India

15/10/2024 05:19

** Shares of paint makers - Asian Paints  ASPN.NS , Kansai
Nerolac  KANE.NS , and Berger Paints India  BRGR.NS  rise
between 1%-2.2%
    ** Oil prices slid 3% after a report said Israel is not
willing to strike Iranian oil targets, easing fears of a supply
disruption  O/R 
    ** Fall in oil prices benefits paint makers, who count crude
as a major raw material, as it will bring down total costs
    ** Shares of ASPN up 1.3% and is among top gainers on the
Nifty 50 index  .NSEI , which is up 0.22%
    ** ASPN down ~10% so far this year vs a 12% and 4% fall in
KANE and BRGR, respectively


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))