Indian paint makers up on declining crude prices

Berger Paints India

17/11/2023 05:42

** Shares of paint makers Asian Paints  ASPN.NS , Berger
Paints  BRGR.NS , Kansai Nerolac  KANE.NS , and Indigo Paints
 INDG.NS  up between 1.5% and 4%
    ** Crude oil prices fell 5% on Thursday to four-month low;
oil prices on track for fourth straight week of decline
    ** Crude oil accounts for about 30% of paint cos' raw
material costs
    ** ASPN and KANE on track to rise for third and fifth
straight sessions respectively, if trend holds
    ** ASPN, BRGR, KANE, and INDG all up between 4% and 21.2%
YTD

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))