Spike in crude oil price spoils prospects for paint industry; Asian Paints shares slip 16% in 3 sessions on input cost worries
The recent surge in the crude oil prices is somehow denting the confidence of investors in the paint stocks, including Asian Paints, which is the India’s largest paint company in terms of volume.
The counter has touched its lowest level since March 2021, and it had hit a 52-week low of Rs 2,343.85 on March 15, 2021: PTI