Paint stocks like Asian Paints and Berger Paints are at record highs. Demand recovery, unlock and lower crude prices are key reasons for the uptick and Kansai Nerolac is likely to benefit from recovery in auto sales.

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Autos contribute 20-25 percent to our revenue and this sector doing well will help us, said HM Bharuka, Vice Chairman and Managing Director of Kansai Nerolac in an interview with CNBC-TV18.

The company is hoping for a good festive season to boost sales.

Cost cutting is important but investment for future is more important, Bharuka added.

According to him more than demand, managing supply side is an issue for the company. From here onwards there will be a slight rise in the raw material prices rather than any reduction.