Indian paint stocks tumble as crude tops $100/bbl amid Iran war

JSW Dulux

09/03/2026 04:30

** Shares of Indian paint companies fall between 3% and 5% as prices of crude oil, a key raw material, surge

** Asian Paints ASPN.NS down 4.6%, Berger Paints India BRGR.NS down 3.3%, Kansai Nerolac Paints KANE.NS trading 3.4% lower, while Akzo Nobel India AKZO.NS falls 2.7%

** ASPN, India's largest paintmaker by market share, trading at its lowest levels since March 5, 2025, while the benchmark Nifty 50 index is down 2.8%

** Crude prices climbed to their highest in nearly four years as U.S.-Israeli war with Iran widens

** Brent LCOc1 jumps as much as 26.4% to $117.16 a barrel

** YTD, ASPN and BRGR are down ~18% each, KANE down ~20%, and AKZO lower by ~13%; Nifty 50 down 9%

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))