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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
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 >
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 >
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 >
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 >
Mumbai, Jul 1 (PTI) JSW Paints aims to significantly increase its market share in decorative and industrial coating segments, following the acquisition of Akzo Nobel India Ltd, the makers of Dulux paints, a top company official said. Last week, JSW Paints announced the acquisition of 74.76 per cent stake from the Dutch promoters of Akzo Nobel India Ltd (ANIL) for a consideration of Rs 8,986 crore and announced an open offer of up to Rs 3,929.06 crore. JSW Paints, part of Sajjan Jindal-led USD 23 billion JSW Group, will fund the nearly Rs 13,000 crore acquisition, partly through a mix of inte ...Read More >
New Delhi, Jul 1 (PTI) The Competition Commission of India (CCI) on Tuesday ordered an investigation against Asian Paints for allegedly abusing its dominant position in the market for manufacturing and sale of decorative paints. The direction follows a complaint filed by Grasim Industries (Birla Paints Division), which allegedly accused Asian Paints of engaging in exclusionary practices aimed at stifling its entry and growth in the Indian decorative paints segment. "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 ...Read More >
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 ...Read More >
New Delhi, Jun 27 (PTI) Sajjan Jindal's JSW Paints on Friday announced acquisition of Dutch paint maker Akzo Nobel's India unit in a Rs 12,915-crore deal to become the fourth-largest player in the paint industry in the country. JSW Paints will buy a 74.76 per cent stake in Dulux paint-maker Akzo Nobel India for Rs 8,986 crore and launch an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore. "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 and its affiliates, for a maximum ...Read More >
July 1 (Reuters) - India's antitrust body on Tuesday ordered an investigation into Asian Paints (ASPN.NS), opens new tab after Aditya Birla Group's paints venture alleged that the country's top paint maker abused its dominant market position, according to an order. The Competition Commission of India's (CCI) initial review showed Asian Paints had breached competition laws, the order showed. Birla has alleged that Asian Paints was abusing its dominant market position by offering discounts and incentives such as foreign travel to dealers in exchange for exclusivity. Asian Paints also increase ...Read More >
New Delhi, Jul 2 (PTI) Shares of Asian Paints declined by nearly 2 per cent on Wednesday morning trade after the Competition Commission of India (CCI) ordered an investigation against the firm for allegedly abusing its dominant position in the market for manufacturing and sale of decorative paints. 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. "The Commission is of the opinion that a prima facie case of contra ...Read More >