Among public sector oil marketing companies (PSU OMCs), Hindustan Petroleum Corporation (up 2.82%), Bharat Petroleum Corporation (up 2.08%) and Indian Oil Corporation (up 1.52%) advanced.

In the commodities market, Brent crude for March 2020 settlement was up 13 cents at $65.57 a barrel. Brent Crude for March 2020 settlement lost 4.2% and settled at $65.44 a barrel in previous session.

Lower crude oil prices could reduce under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

Crude oil prices slumped as comments from US President Donald Trump calmed tensions and diverted a potential war with Iran. Trump also confirmed earlier reports that there were no American casualties as a result of Iran's missile strikes on Iraqi military bases housing US troops.

Earlier this week, Brent crude oil climbed above $70 a barrel after Iran's top military commander was killed in a U.S. airstrike in Baghdad.

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Berger Paints India will hold a meeting of the Board of Directors of the Company on 5 February 2020.

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Net profit of Berger Paints India rose 67.15% to Rs 194.66 crore in the quarter ended September 2019 as against Rs 116.46 crore during the previous quarter ended September 2018. Sales rose 7.28% to Rs 1598.58 crore in the quarter ended September 2019 as against Rs 1490.06 crore during the previous quarter ended September 2018.

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Berger Paints India has acquired 91.94 % of the paid-up equity share capital of STP out of 95.53% to beacquired by the Company. The balance 3.59% of the paid-up equity share capital is intended tobe acquired shortly, as per the Share Purchase Agreement entered between the parties.

STP has thus become a subsidiary of Berger Paints India with effect from 1November, 2019.

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