Tag: asian paints

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Reliance Industries sells 3.64% stake in Asian Paints for ₹7,703 crore

Representative Image NEW DELHI: Billionaire Mukesh Ambani-led Reliance Industries on Thursday divested a 3.64 per cent stake in Asian Paints, while SBI Mutual Fund picked up the shares for Rs 7,703 crore through an open market transaction. Reliance Industries, through its affiliate Siddhant Commercials Pvt Ltd, sold 3.50 crore equity shares or 3.64 per cent stake in Asian Paints, as per the block deal data available with the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 2,201 apiece, taking the transaction value to Rs 7,703.50 crore. After the stake sale, RIL arm Siddhant…

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Paint companies face profitability challenges amidst high competition

Representative Image MUMBAI: Investor woes in shares of paints companies may be far from over as the hyper competition in the sector and tepid demand are expected to continue squeezing profitability in the sector. With valuations remaining elevated despite the recent underperformance in the shares, money managers and analysts are less enthusiastic about their prospects in the foreseeable future. So far in 2025, Asian Paints is down 4.2% and Kansai Nerolac has fallen 4.5%. Berger Paints bucked the trend, rising 24%. In comparison, the Nifty 50 is up 6%. Morgan Stanley said this ‘de-rating’ is not yet done. “While there…

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Birla Opus Paints files abuse complaint with CCI against Asian Paints

Asian Paints shares will be in focus on Monday after Birla Opus Paints, a unit of the Birla Group, filed a complaint with the Competition Commission of India (CCI), accusing the company of abuse of dominance, according to sources cited by CNBC-TV18. Grasim Industries, which owns Birla Opus Paints, reportedly filed the complaint in November 2024, alleging that Asian Paints threatened dealers with reduced credit limits and withdrawal of contracts if they engaged with Grasim. The complaint also accuses Asian Paints of delaying supplies and restricting access to tinting machines as a pressure tactic. Asian Paints, India’s largest paint manufacturer,…