Asian Paints, IndiGo shares jump up to 4% as Brent crude oil price falls below $60
Last Updated: May 05, 2025, 09:57:00 AM IST
Shares of InterGlobe Aviation, Asian Paints, MRF, and fuel retailers surged on Monday as Brent crude prices fell below $60 per barrel after OPEC+ announced a production hike. Airlines, paint, and tyre companies are set to benefit from lower input costs. The OPEC+ decision adds to existing pressure on crude amid global slowdown fears and Trump's tariff moves.
Shares of InterGlobe Aviation , which operates IndiGo Airlines, rose up to 4% to a day’s high of Rs 5,566 on BSE on Monday, as Brent crude oil prices fell below the $60 per barrel mark following OPEC+’s announcement to increase output.
Asian Paints shares also gained around 2%, as declining crude prices significantly reduce raw material costs for paint companies.
A fall in crude oil prices is beneficial for both airlines and paint manufacturers.
For paint makers, lower crude prices lead to reduced input costs and higher margins, thereby boosting profitability.
Similarly, for airlines, cheaper fuel improves margins and lifts bottom-line performance.
Among other paint stocks, Berger Paints and Akzo Nobel were also trading nearly 2% higher.
MRF shares jumped over 2%, as the tyre manufacturer uses crude-derived carbon black as a major raw material.
Live Events Meanwhile, fuel retailers like HPCL , IGL , IOC , and BPCL saw gains of 4–6% each.
Crude prices have already been sliding due to fears of a global economic slowdown, intensified by U.S. President Donald Trump’s tariff onslaught.
Adding to oversupply concerns, the OPEC+ group of eight nations announced plans to raise output by 411,000 barrels per day. According to Reuters, this June increase brings the total combined hikes for April, May, and June to 960,000 bpd, representing a 44% unwinding of the 2.2 million bpd cuts agreed upon since 2022.
Barclays noted that the OPEC+ decision reflects strength in underlying fundamentals and external influences, rather than concerns over member overproduction.
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Union Petroleum Minister Hardeep Singh Puri says petrol and diesel rates in India may ease once recently bought cheaper crude reaches refiners, after global oil prices cooled and Brent slipped below $80 a barrel. The signal matters because India imports most of its crude, so any sustained fall can filter through to motorists, freight users and inflation. But the relief is unlikely to be immediate, because fuel prices depend on inventory cycles, logistics and how quickly oil companies pass on lower input costs.
Union Petroleum Minister Hardeep Singh Puri says petrol and diesel rates in India may ease once recently bought cheaper crude reaches refiners, after global oil prices cooled and Brent slipped below $80 a barrel. The signal matters because India imports most of its crude, so any sustained fall can filter through to motorists, freight users and inflation. But the relief is unlikely to be immediate, because fuel prices depend on inventory cycles, logistics and how quickly oil companies pass on lower input costs.
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