Paint maker sees stable prices in short term

NSE-listed Crown Berger has said prices for its paints are unlikely to be affected by a weakening shilling and rising fuel prices in the short term. Rakesh Rao, the paint maker’s managing director, said the firm has limited itself to importing intermediary raw materials to manufacture locally, bringing down the cost of production. “At the moment, the effects of the unstable shilling may not really impact on the paint prices unless something in the international markets goes haywire,” he told the Star. “A stable shilling works for us and a depreciation of up to two per cent is within...