Asian Paints lower for third straight day; stock down 4% to Rs 1,440

In the past three trading days, the stock corrected 5 per cent, as compared to a marginal 0.13 per cent decline in S&P BSE Sensex

Asian Paints shares were trading lower for the third straight day, down 4 per cent, at Rs 1,440 in intra-day trade on Tuesday due to higher crude oil prices, one of the key raw materials in paint manufacturing.

Meanwhile, in a regulatory filing, Asian Paints said that a fire broke out at the company's paint manufacturing facility in Vishakhapatnam, Andhra Pradesh, on Tuesday afternoon.

The fire has been brought under control. The company is in the process of assessing the extent of the damage. The manufacturing operations of the plant have been affected. This will not have any impact on