India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi: The Competition Commission of India (CCI) on Tuesday directed an investigation into Asian Paints for the latter's alleged abuse of its dominant market position. The regulator's move follows a complaint by Grasim Industries (Birla Paints Division) accusing Asian Paints of engaging in anti-competitive practices to stifle its growth in the decorative paints segment . Grasim has alleged that Asian Paints is offering extra discounts and incentives to dealers in exchange for exclusive tie-ups and threatening them against stocking the informant's paints, among other things, thus abusing its dominant position. For its part, Asian Paints has rejected the allegations. "The commission is of the opinion that a prima facie case of contravention of the provisions of section 4(2)(a)(i), 4(2)(c) and 4(2)(d) of the Act by the OP (Asian Paints) is made out in the present matter," the CCI said in its order. Section 4 of the competition law prohibits the abuse of dominant market position.
The Competition Commission of India (CCI) has fined WhatsApp $25.4 million for antitrust violations linked to its controversial 2021 privacy policy. It ruled that WhatsApp's mandatory data-sharing with Meta for advertising purposes abused its dominant market position, forcing users to accept expanded data collection without opt-out options. The CCI also prohibited WhatsApp from sharing user data with Meta units for non-service-related purposes for five years. This mandatory data-sharing, the CCI noted, created barriers for competitors and harmed the display advertising market. With over 450 mi ...Read More >
New Delhi, Jun 27 (PTI) JSW Paints, part of USD 23 billion JSW Group, on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm. "JSW Paints today (Friday) entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India from Akzo Nobel NV a ...Read More >
Mumbai: JSW Paints has agreed to acquire Akzo Nobel's India business, valuing the company at Rs 12,000 crore (approximately $1.1 billion). This will make the paint-maker the fourth-largest in the now highly competitive domestic paints market. Ending months of negotiations, JSW has agreed to pick up 74.76% stake in the Akzo Nobel India for Rs 8,986 crore, an over 17% discount to Thursday's price. ET in its May 26th edition was the first to report that JSW had agreed for the billion dollar acquisition - its largest so far and had entered in "exclusive negotiations." "Akzo Nobel India is home t ...Read More >
Stocktwits - Indian markets opened firm on Wednesday, tracking mixed global cues, as optimism builds around a potential U.S.-India trade deal ahead of the critical July 9 deadline. The retail sentiment on Stocktwits for Nifty remained 'bullish'. Sectorally, it's a mixed bag with technology and metals leading the gains, while PSU banks and media stocks witnessed some selling pressure. IndusInd Bank (NSE:INBK) is the top Nifty loser, falling 3% as Goldman Sachs (NYSE:GS) downgraded it to 'Sell' with a target price of ₹722 per share. They expect subdued returns even after a recovery in H2 FY26 ...Read More >
Akzo Nobel has revealed that its decision to partner with JSW Paints was based on a strategic vision to combine global expertise with strong local execution. The move positions JSW Paints to challenge India's top paint industry players. "We had options. It was really about finding not only the right home for our people but the right partner for our company, and we chose JSW," ET NOW quoted Akzo Nobel CEO Greg Poux-Guillaume as saying, explaining the rationale behind the decision. "It really is a ...Read More >
Kolkata, July 5 (SocialNews.XYZ) The West Bengal unit of BJP, under the leadership of its new State party President Samik Bhattacharya is making all efforts to ensure a political rally in the state, with Prime Minister Narendra Modi addressing it, before Trinamool Congress's annual Martyrs' day rally in Kolkata on July 21. An insider from the state committee of BJP said that the week before July 21, the Prime Minister is scheduled to go for an election campaign in Bihar where the Assembly polls are scheduled later this year. "We are trying hard so that the Prime Minister can spare some time ...Read More >
During the hearing, senior advocate Abhishek Singhvi, representing Apple Inc, submitted that they have received the copy of a joint reply of the ministry and CCI last night and urged the court to grant some time to file the rejoinder. New Delhi: The Delhi High Court on Tuesday directed the Centre and Competition Commission of India to place on record their response filed on a plea by tech giant Apple Inc challenging CCI's direction to furnish the firm's audited financial statements for several y ...Read More >
New Delhi, Apr 8 (PTI) Shares of oil marketing companies rallied on Wednesday, with HPCL surging nearly 10 per cent, as crude oil prices retreated sharply to fall below the USD 100-mark after the US and Iran announced a two-week ceasefire. Brent crude, the global oil benchmark, dropped 15.16 per cent to USD 92.54 per barrel. The stock of Hindustan Petroleum Corporation Ltd (HPCL) zoomed 9.93 per cent to settle at Rs 364.30 on the BSE. Shares of Bharat Petroleum Corporation Ltd (BPCL) jumped 7.44 per cent to Rs 298.05 and Indian Oil Corporation climbed 6.62 per cent to Rs 143.40. Stock mark ...Read More >
Flipkart and Amazon India have been under ED scrutiny for alleged breach of FEMA provisions. The Enforcement Directorate (ED) is learnt to have offered the option of closing a FEMA violation case against e-commerce major Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said. The option was given by the Enforcement Directorate to Flipkart last week under the compounding rules of FEMA (Foreign Exchange Management Act). "ED has given the o ...Read More >
The Competition Commission of India has approved ITC Ltd's Rs 3,498-crore acquisition of Aditya Birla Real Estate's pulp and paper business in Uttarakhand. The slump-sale deal will transfer Century Pulp and Paper to ITC. ABREL said the divestment will unlock value and allow sharper focus on its core real estate business, while ITC strengthens its paperboards and packaging segment. New Delhi: Fair trade regulator CCI on Tuesday cleared conglomerate ITC Ltd's proposal to acquire the pulp and paper ...Read More >
New Delhi: The Competition Commission of India (CCI) on Tuesday ordered an investigation against Asian Paints for allegedly abusing its dominant position in the market.The direction follows a complaint filed by Grasim Industries (Birla Paints division), which accused Asian Paints of engaging in exclusionary practices, aimed at stifling its entry and growth in the Indian decorative paints segment. Section 4 of the Competition Act, 2002, prohibits abuse of dominant position. Asian Paints manufactures paints for both decorative and industrial use. agencies ...Read More >
Mumbai (Maharashtra), July 5 (ANI): UltraTech, the flagship cement company of Aditya Birla Group, has said that it is not under investigation in case related to anti-competitive practice before the Competition Commission of India and it has neither received any order from the CCI in this case nor have the company financials been sought by competition watchdog. In a stock filing, UltraTech termed as 'false and misleading' reports published in public domain concerning the company over the CCI probe concerning ONGC's cartelisation complaint. 'It is clarified that the Company is not under invest ...Read More >
NEW DELHI, Aug 14 (Reuters) - Publicis has sued India's antitrust watchdog for denying access to case files in a high-profile price-fixing investigation of ad agencies, after the French group failed to get the probe stalled until it could review the documents, court filings show. The Competition Commission of India (CCI) shook India's near-$30 billion media and entertainment sector in March with dawn raids at WPP's (WPP.L), opens new tab GroupM, Dentsu (4324.T), opens new tab, Publicis (PUBP.PA), opens new tab, Omnicom (OMC.N), opens new tab and many other agencies over suspected collusion ov ...Read More >
NEW DELHI: One Mobikwik Systems(Rs. 2584.16 crore), Intellect Design(Rs. 1065.62 crore), Mazagon Dock Ship(Rs. 891.02 crore), Amber Enterprises(Rs. 702.79 crore), KFIN Technologies(Rs. 561.63 crore), GIC(Rs. 509.82 crore), Manappuram Finance(Rs. 431.00 crore), Greaves Cotton(Rs. 285.52 crore), Tata Motors(Rs. 271.16 crore) and BSE(Rs. 260.62 crore) were among the most traded securities on the National Stock Exchange at 11:10AM in Thursday's session. The NSE Nifty index traded 14.15 points up at 23741.8, while BSE Sensex was 0.12 points at 78472.75 as of 11:10AM(IST)on December 26. In the Nif ...Read More >
New Delhi, Aug 3: Google on Sunday said it is reviewing the Competition Commission of India (CCI) orders into its conduct in the online display advertising market. The trade regulator ordered a thorough probe over a complaint filed by the Alliance of Digital India Foundation (ADIF). The CCI said it has decided to club the complaint with ongoing investigations in similar cases and directed the Director General (DG) to carry out a consolidated probe into Google's conduct in the AdTech ecosystem. In a separate order, the CCI dismissed a complaint filed by ADIF against Google, concluding that th ...Read More >
Mumbai (Maharashtra) [India], June 27 (ANI): JSW Paints Limited, on Friday, entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) from Akzo Nobel NV and its affiliates, for a maximum consideration under the Share Purchase Agreement of up to Rs 8,986 crores, subject to certain closing adjustments (Proposed Transaction). The Proposed Transaction is subject to approval from the Competition Commission of India and the completion of a mandatory tender offer (Open Offer) to the public shareholders of ANIL. Also Read | Bengaluru Shocker: Woman R ...Read More >
New Delhi [India], July 4 (ANI): With its probe into a complaint by ONGC alleging cartelisation, finding evidence of Ultratech's subsidiary India Cements engaged in collusion with two other cement manufacturers in violation of the norms, the Competition Commission of India has given directions for submitting detailed financial and income tax records. The competition watchdog probed a complaint by ONGC alleging cartelisation in its tenders. Its probe found evidence of Ultratech and its subsidiary engaging in anti-competitive collusion with two other cement manufacturers - Shree Digvijay Cement ...Read More >
Mumbai, July 5 (SocialNews.XYZ) UltraTech Cement Ltd. on Saturday denied being investigated by the antitrust regulator Competition Commission of India (CCI) for alleged contravention of competition norms. In a stock exchange filing, the Aditya Birla Group company called such media reports "false and misleading" and clarified that it is not under investigation in a case from 2020. "The company has neither received any order from the CCI in this case nor have the company's financials been sought by the CCI," a stock exchange filing read. "It is clarified that the Company is not under investig ...Read More >
New Delhi [India], April 2 (ANI): Indian fast-moving consumer goods (FMCG) companies are expected to implement a fresh round of price increases starting in the first quarter of FY27. As per a report by Nuvama Institutional Equities, a sharp rise in crude oil prices and a weakening Rupee have significantly increased input cost pressures, ending a period of relative price stability for the sector. The report forecasts price hikes of at least 3 to 4 per cent in Q1FY27 if the current inflation in ra ...Read More >
NEW DELHI (Reuters) -- Samsung has accused India's competition watchdog of unlawfully detaining its employees and seizing data in a raid carried out in connection with an antitrust investigation on Amazon and Walmart's Flipkart, a legal filing shows. Samsung is embroiled in the Competition Commission of India's (CCI) investigation that in August concluded that the South Korean giant and other smartphone companies broke antitrust laws by colluding with Amazon and Flipkart to exclusively launch products online. ...Read More >
Mumbai (Maharashtra) [India], June 27 (ANI): JSW Paints Limited, on Friday, entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) from Akzo Nobel NV and its affiliates, for a maximum consideration under the Share Purchase Agreement of up to Rs 8,986 crores, subject to certain closing adjustments (Proposed Transaction). The Proposed Transaction is subject to approval from the Competition Commission of India and the completion of a mandatory tender offer (Open Offer) to the public shareholders of ANIL. JSW Paints is India's fastest growing ...Read More >
Mumbai: India's paintmakers must gird up for a tougher battle from two upstarts. Birla Opus, owned by billionaire Kumar Mangalam Birla, has already shaken up the nation's paints sector with its pricing war. Now, JSW Paints Ltd's ₹9,300-crore acquisition of Dutch giant AkzoNobel's India unit portends a tighter squeeze on the profitability of their peers as they battle to protect turf. The deal by JSW Paints, part of billionaire Sajjan Jindal's steel-to-cement empire, will not immediately change the competitive landscape as it merely changes ownership from a multinational to a local player, ac ...Read More >
New Delhi [India], July 4 (ANI): With its probe into a complaint by ONGC alleging cartelisation, finding evidence of Ultratech's subsidiary India Cements engaged in collusion with two other cement manufacturers in violation of the norms, the Competition Commission of India has given directions for submitting detailed financial and income tax records. The competition watchdog probed a complaint by ONGC alleging cartelisation in its tenders. Its probe found evidence of Ultratech and its subsidiary engaging in anti-competitive collusion with two other cement manufacturers - Shree Digvijay Cement ...Read More >
New Delhi, Jul 16 (PTI) Three private equity firms have sought approval from the Competition Commission of India (CCI) to acquire a stake in Mumbai-based bakery chain Theobroma. At least two private equity firms -- Infinity Partners and Atreides Investments BV -- are affiliates of ChrysCapital. Another PE firm Aqua Investments Ltd will also be acquiring a stake in Theobroma Foods. Also Read | Aadhaar Free Update: Government Requests Parents to Update Children's Aadhaar Biometrics Between Age 5-7, Free of Cost. The development came following reports that homegrown PE major ChrysCapital is se ...Read More >
New Delhi, Jul 16 (PTI) Three private equity firms have sought approval from the Competition Commission of India (CCI) to acquire a stake in Mumbai-based bakery chain Theobroma. At least two private equity firms -- Infinity Partners and Atreides Investments BV -- are affiliates of ChrysCapital. Another PE firm Aqua Investments Ltd will also be acquiring a stake in Theobroma Foods. The development came following reports that homegrown PE major ChrysCapital is set to acquire a 90 per cent stake in Theobroma Foods for an estimated Rs 2,410 crore. ChrysCapital has reportedly signed a deal to ac ...Read More >
Mumbai (Maharashtra) [India], May 16 : Domestic indices opened flat on Tuesday morning as losses in financial and construction stocks dragged the key indices. Investors are keeping a wait-and-watch mode for the various earning announcements of companies such Bharti Airtel, Bank of Baroda, Indian Oil and V-Mart Retail lined for the day. BSE Sensex opened 91 points lower to 62,254.21 while NSE Nifty dropped 16.70 points to 18,382.15 at 10.50 am on Tuesday morning. The top gainers on Nifty 50 were Hindalco, Cipla, Divis Lab, Asian Paints and Infosys while the losers were Maruti, Mahindra & Mah ...Read More >
New Delhi, July 5: The country's leading cement maker UltraTec, on Saturday said it is not under investigation by the fair trade regulator CCI over alleged contravention of competition norms in tenders floated by state-run oil major ONGC. "It is clarified that the Company is not under investigation in this Case No. 35 of 2020 before the Competition Commission of India ("CCI"). The company has neither received any order from the CCI in this case nor have the company's financials been sought by the CCI," said the Aditya Birla group flagship firm in a BSE filing. It further said that its newly a ...Read More >
New Delhi, July 4 (SocialNews.XYZ) The Competition Commission of India (CCI) has directed Aditya Birla Group company UltraTech, which owns India Cements, and two other cement manufacturing companies as well as their executives to submit financial documents, after its Director General's investigations revealed that these companies contravened competition norms by colluding in the tenders floated by public sector oil giant ONGC. The CCI had ordered an investigation after it received a complaint filed by the government-owned ONGC alleging cartelisation by the cement companies in the tenders that ...Read More >
Mumbai, July 4 (SocialNews.XYZ) Anoop Khatry, Chief Legal Officer of UltraTech Cement Limited, has resigned from his position citing personal reasons, the company informed in an exchange filing on Friday. The same has been accepted with effect from the close of business on July 3, 2025, according to the company. "We hereby inform you that Mr Anoop Khatry, Chief Legal Officer, has tendered his resignation from the services of the Company with effect from close of business hours on 3rd July, 2025 due to personal reasons," according to the company's exchange filing. Ultratech's legal operation ...Read More >
New Delhi: The Competition Commission of India (CCI) has directed Aditya Birla Group company UltraTech, owner of southern India-based India Cements, along with Dalmia Cement (Bharat) Limited (DCBL) and Shree Digvijay Cement and their executives to submit audited financial statements, including balance sheet and profit and loss account, within eight weeks of the order. The competition watchdog's direction came over a complaint filed by ONGC alleging cartelisation in its tenders. Following the com ...Read More >