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Asian Paints, other paint stocks plunge up to 6% as Israel-Iran war fuels rally in crude oil prices: What lies ahead?
Paint stocks like Asian Paints and Indigo Paints plunged up to 6% as crude oil prices surged due to escalating Middle East tensions following attacks on Iran. The conflict, particularly around the Strait of Hormuz, has raised concerns about oil supply disruptions, directly impacting paint companies reliant on petroleum-based derivatives and pressuring their profit margins.
Paint firms eye strong March finish
Indian paint companies are optimistic about the current quarter. Demand picked up in November and December. This trend is expected to continue, leading to high single-digit volume growth. Competition remains intense. Companies like Asian Paints, Berger Paints, and Kansai Nerolac report gradual improvement in demand post-Diwali. Birla Opus and JSW Paints are also active in the market.
Asian Paints, IndiGo lead gains in oil-sensitive stocks as crude falls below $93 on Israel-Iran ceasefire hopes
Crude oil prices fell today, boosting paint, airline, and tyre stocks. IndiGo stock surged 3.8 percent, aided by positive broker ratings.
BPCL, HPCL shares jump over 4%; Asian Paints, IndiGo rally as crude falls below $95, lifts oil-sensitive stocks
Stocks across oil marketing companies (OMCs), aviation, paint and tyre segments were trading firmly higher, as Brent crude slipped below the $95 per barrel mark after declining for a second straight session.
IndiGo, Asian Paints, HPCL jump up to 4%; crude-sensitive stocks gain as oil prices tumble on Iran deal hopes
Crude-related stocks rose as global oil prices tumbled on hopes of a peace agreement between the United States and Iran, easing concerns over supply disruptions and inflationary pressures.
Nifty top gainers: IndiGo, Asian Paints among leading stocks as crude price plunge lifts global sentiment
Among the top gainers on the Nifty, IndiGo stock rose about 3.3 percent, while Asian Paints gained over 2 percent as crude oil prices retreated sharply after Monday’s surge. Sectorally, most indices remained in positive territory, with Nifty Auto and Nifty Pharma rising about 1.2 percent each.
Taking Stock: Markets continue to see sell-off amid crude surge; rupee at record low
More than 850 stocks touched their 52-week low, including Swan Corp, Interglobe Aviation, GNFC, PNB Housing Finance, Birla Corp, BLS International, Sterling Wilson, RHI Magnesita, Just Dial, Asian Paints, Nuvoco Vistas, REC, Berger Paints, JK Lakshmi Cement, Rashtriya Chemicals, GAIL, Inox Wind, among others.
IndiGo, SpiceJet, Asian Paints slide up to 8% as oil shock above $115 hits crude-sensitive stocks
A sharp surge in crude oil prices above $115 per barrel has raised fears of higher input costs and renewed inflationary pressures. Among the biggest losers, IndiGo shares plunged over 7 percent. Paint companies, which rely heavily on crude derivatives for inputs, also came under pressure.
IndiGo among top Nifty losers; Asian Paints, IOCL, Apollo Tyres slump as crude surge hits paints, tyre stocks
The sharp fall in crude-sensitive counters comes as oil prices surged amid the widening conflict involving the United States, Israel and Iran. Paint companies' stocks were among the worst affected, while Tyre makers and OMCs were also weak. The selling pressure extended to aviation stocks as well.
BPCL, HPCL, IndiGo slide up to 4% as crude oil jumps after US strikes Iran; OMCs, aviation, paint stocks fall
Crude-sensitive shares fell on Wednesday due to rising oil prices after US airstrikes in Middle East. BPCL, HPCL, IndiGo, Asian Paints saw share declines.
BPCL, HPCL, IndiGo, Asian Paints fall up to 4% as Brent crude tops $76
Among OMCs, BPCL dropped 3.87% to Rs 301.80, while HPCL declined 4.13% to Rs 389.20.