Paints stocks rally as Asian Paints rises 4%
Most of the Paints stocks were trading in the green in the afternoon trade on Friday due to a fall in crude oil prices. A fall in crude price is helpful for the paint companies as it constitutes a major part of their expenses and raw material.
Shares of Shree Hari Chemicals Export (up 9.99 per cent), Adi Rasayan (up 4.94 per cent), Indokem (up 4.91 per cent), Asian Paints (up 3.81 per cent), Bodal Chemicals (up 3.42 per cent), Jaysynth Dyestuff (India) (up 2.99 per cent), Chromatic India (up 2.94 per cent), Berger Paints India (up 2.79 per cent), Kiri Industries (up 2.52 per cent) and Kansai Nerolac Paints (up 2.11 per cent) were among the top gainers.
Shalimar Paints (down 2.61 per cent), AksharChem (India) (down 2.41 per cent), YASHCHEM (down 2.26 per cent) and Amal (down 2.10 per cent) were trading in the red.