Indian paintmakers companies rise as crude oil prices fall

Indigo Paints

Tue 05:03

** Shares of Indian paintmakers rise between 0.1% and 2.%
** Gains come after Brent crude LCOc1 traded flat at about $105 a barrel after dropping 7% in previous session as talks between Iran and Qatari mediators lifted hopes for an end to the US-Israeli war with Iran
** Asian Paints ASPN.NS gains 2.57%, Berger Paints BRGR.NS rises 2.17%, Kansai Nerolac KANE.NS adds 2.22%, while JSW Dulux JSWD.NS and Indigo Paints INDG.NS edge 0.86% and 0.1% higher, respectively
** Lower crude prices could ease costs of petroleum-derived raw materials, including solvents, resins and other chemicals used in paint production, supporting paintmakers' margins
** YTD, ASPN down 13.15%, BRGR fell 10.84, KANE dipped 21.38%, JSWD down 16.77% and INDG fell 23.85%

(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))