Oil Price-hike affects Paint Company Stocks

Paint-Stocks

Since the crude oil price surged to more or less 4 percent after Iran revenged with an attack on Iraq base hosting U.S troops, shares of paint companies even dropped lower up to 3-percent intraday on Wednesday’s trading session.

Shares of paint companies such as Berger Paints, Asian Paints, Shalimar Paints Nerolac and Repro India slipped in share prices amid an escalation in US-Iran worries.

Asian Paints traded and declined about 1.7-percent while Berger Paints declined more than 2-pc. Further, Repro India and Kansai Nerolac lost sheen up to 2.5-pc each at intraday low levels on the NSE. To get Stock Tips and free trading tips visit our website.

Later, at 1:15 pm, shares in Asian Paints was ruling lower at Rs.1717.45-per unit, down by Rs.7.95 from the previous closing, while Berger Paints was trading at Rs493.35, down by Rs1/- from the previous closing.

Shares of Shalimar Paints were trading lower by one percent at Rs84.05 and Kansai Nerolac traded lower at 505-per share, down by Rs.3 or 0.60-pc, and Repo India quoted flat at Rs606-per share, down 0.04pc from the previous closing on the NSE.

In comparison, the BSE Sensex was trading lower at 40679, down 190 points and the Nifty traded at 11991, down by 62 points at 1.15-pm.

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