 "Paint shares in demand; Asian Paints, Berger Paints hit new high")
Shares of paint manufacturer are in demand with most of the frontline stocks trading at their record high on expectation of improvement in operating profit margins due to fall in crude prices.
Berger Paints (up 8% to Rs 235), Asian Paints (5% at Rs 809), Kansai Nerolac Paints (4% at Rs 2,094), Shalimar Paints (2% at Rs 162), Akzo Nobel India (2% at Rs 1,421) are up between 2-8% on the BSE.
Asian Paints, Berger Paints and Kansai Nerolac Paints have hit their respective record highs during intra-day trade.
The fall in crude oil prices will be beneficial as paint companies use crude oil derivatives as inputs. Raw materials account for over 50% of a paint company’s total expenses.
Berger Paints (up 8% to Rs 235), Asian Paints (5% at Rs 809), Kansai Nerolac Paints (4% at Rs 2,094), Shalimar Paints (2% at Rs 162), Akzo Nobel India (2% at Rs 1,421) are up between 2-8% on the BSE.
Asian Paints, Berger Paints and Kansai Nerolac Paints have hit their respective record highs during intra-day trade.
The fall in crude oil prices will be beneficial as paint companies use crude oil derivatives as inputs. Raw materials account for over 50% of a paint company’s total expenses.
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