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Asian Paints shares gain after second round of price hikes, despite crude reboundRaw materials linked to crude account for nearly 35-40% of total costs for paint makers, making the sector highly sensitive to oil price movements.By Meghna Sen  April 20, 2026, 10:28:12 AM IST (Updated)2 Min ReadPaint companies are back in focus as input cost pressures resurface, driven largely by a rise in crude-linked derivatives and currency weakness.

Raw materials linked to crude account for nearly 35-40% of total costs for paint makers, making the sector highly sensitive to oil price movements.

While titanium dioxide prices have remained stable, other key inputs such as phthalic anhydride and packaging costs have moved higher in line with the recent uptick in crude. A weaker rupee has further added to cost pressures by raising import bills.

Against this backdrop, companies have begun passing on the increase through price hikes. Asian Paints had already implemented a sharp 6-8% hike across most of its portfolio in April.

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According to brokerage firm Nomura, the company has now announced a second round of price increases in the range of 3-5%, effective May 5, with higher hikes in solvent-based products. This takes the cumulative price increase to high single digits to low double digits, based on channel checks.

The move comes amid continued supply chain disruptions that have pushed up raw material, packaging and logistics costs.

Despite the hikes, demand is expected to remain resilient, with volumes unlikely to see a meaningful impact. Higher realisations are likely to support both revenue growth and margins going ahead.

Even as competition in the sector remains elevated, pricing discipline appears to be holding firm, suggesting that companies are prioritising profitability amid a challenging cost environment.

Shares of Asian Paints Ltd. are now trading 0.33% higher at ₹2,472.10. the stock is down 10% so far this year.Continue ReadingFirst Published: Apr 20, 2026 10:24 AM ISTTagsAsian PaintsAsian Paints share price