Hindustan Unilever, Asian Paints, Pidilite gain on lower crude oil prices

Elvera Bartels

Shares of Hindustan Unilever (HUL), Asian Paints, and Pidilite Industries rallied up to 8 per cent on the BSE on Tuesday right after a considerable fall in crude oil rates.

Oil rates fell below $thirty a barrel on Monday as the globally coronavirus outbreak worsened in excess of the weekend, exacerbating fears that federal government lockdowns to comprise the distribute of the condition would spark a world wide recession.

Pidilite Industries surged up to 8 per cent at Rs 1,592 and Asian Paints gained five per cent at Rs 1,765 on the BSE. These providers are the crucial likely beneficiaries of reduced crude rates as for equally these providers, crude & crude derivatives account for close to fifty-sixty per cent of price of goods marketed (COGS).

Quickly relocating consumer goods (FMCG) big, HUL, also surged six per cent to Rs 2,065, as crude and crude derivatives account for close to

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