Asian Paints, other paint stocks plunge up to 6% as Israel-Iran war fuels rally in crude oil prices: What lies ahead?

March 2, 2026

Paint stocks like Asian Paints and Indigo Paints plunged up to 6% as crude oil prices surged due to escalating Middle East tensions following attacks on Iran. The conflict, particularly around the Strait of Hormuz, has raised concerns about oil supply disruptions, directly impacting paint companies reliant on petroleum-based derivatives and pressuring their profit margins.

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