Street Signs: Oil boost for paint and tyre stocks, NMDC gains 4%, and more

Shares of NMDC (formerly National Mineral Development Corporation) rallied over 4 per cent on Friday, even as the stock got removed from the Nifty CPSE index

Shares of paint and tyre companies could extend rally, thanks to a sharp plunge in global oil prices. Last week, the Brent crude posted its worst weekly drop of the year at 14 per cent to close at $94.7 per barrel - the lowest levels since February. For paint and tyre companies, oil is a major input. Analysts say investors should keep paint stocks, such as Indigo Paints, Berger Paints, Asian Paints, AkzoNobel India, and Kansai Nerolac Paints, on their radar. Meanwhile, tyre companies, such as Apollo Tyres, MRF, CEAT Tyres, and Balkrishna Industries, could also gain, if oil prices