Latest news with #AsianPaints
United News of India
7 hours ago
- Business
- United News of India
Sensex Zooms by 1,650.73 points during the week
Mumbai, June 28 (UNI) The Sensex surged 1,650.73 points, or 2 per cent, to settle at 84,058.90 in the week ended June 27, 2025. Supported by easing geopolitical tensions, strong global cues, positive domestic economic data, and robust FII buying. Equity benchmarks saw a strong rebound this week, closing in the green for four out of five sessions. Nifty soared 525.40 points, or 2.09 per cent, to settle at 25,637.80. The BSE Mid-Cap index jumped 2.33 per cent to close at 46541.25. The BSE Small-Cap index zoomed 3.57 per cent to end at 54,249.40. On June 23, as rising tensions in the Middle East spooked investors. BSE Sensex tanked 511.38 points to 81,896.79. Nifty slipped 140.05 points, or 0.56%, to 24,971.90. On June 24, BSE Sensex added 158.32 points to settle at 82,055.11. Nifty rose 72.45 points to 25,044.35. On June 25, buoyed by positive global cues as investor sentiment improved following signs of a tentative ceasefire between Israel and Iran, BSE Sensex surged 700.40 points to close at 82,755.51, while the Nifty 50 jumped 200.40 points to 25,244.75. On June 26, it closed with solid gains on the back of firm global cues and hopes of de-escalation in the Israel-Iran conflict. BSE Sensex zoomed 1,000.36 points to close at 25,755.87. Nifty surged 304.25 points to 25,549. On June 27, driven by strong foreign institutional investor (FII) inflows, the BSE Sensex jumped 303.03 points to 84,058.90. Nifty rose 88.80 points to 25,637.80. Sensex gainers during the week were Asian Paints by 3.06 pc, UltraTech Cement by 2.43 pc, Power Grid Corp by 2.11 pc, ICICI Bank by 1.56 pc, and Reliance by 1.39 pc BEL by 1.19 pc, HUL by 1.14 pc, Sun Pharma by 1.12 pc, SBI by 1.05 pc, Adani Ports by 0.75 pc, Bharti Airtel by 0.68 pc, and Tata Steel by 0.56 pc. Tata Motors by 0.54 pc, L&T by 0.50 pc, NTPC by 0.24 pc, Kotak Mahindra by 0.18 pc, HCL Tech by 0.08 pc and TCS by 0.04 pc Sensex loser during the week Trent by 1.42 pc, Eternal by 1.13 pc, Tech Mahindra by 0.93 pc, Titan Company by 0.79 pc, Axis Bank by 0.74 pc, Maruti Suzuki by 0.56 pc, Bajaj Finance by 0.52 pc, Bajaj Finserv by 0.46 pc, HDFC Bank by 0.43 pc, Infosys by 0.40 pc, ITC by 0.33 and M&M by 0.31 pc. Other gains were Nestle India by 3.99 pc, Adani Enterprises by 8.13 pc, Zed Entertainment Enterprises (ZEEL) by 8.49 pc, Reliance Infrastructure by 10.75 pc, Ask Automotive by 11.67 pc, KNR Constructions by 5.79 pc and Ahluwalia Contracts (India) by 9.35 pc. Sectoral gainers during the week were BSE Auto by 1.56 pc, Bankex by 1.80 pc, Consumer Durables by 3.28 pc, Capital Goods by 1.86 pc, FMCG by 1.35 pc, Health Care by 2.17 pc, Metal by 4.77 pc, Oil & Gas by 3.20 pc, Tech by 0.97 pc and Power by 3.24. Sectoral loser during the week Realty by 2.06 pc and IT by 0.29 pc. UNI JS ARN
Business Standard
8 hours ago
- Business
- Business Standard
Asian Paints acquires 40% stake in White Teak
Asian Paints said that it has acquired balanced 40% stake in Obgenix Software (White Teak) from its promoters, Pawan Mehta, Gagan Mehta for total consideration of Rs 188 crore. The acquisition of the remaining stake in White Teak would be a next step forward in the companys foray of being a complete home dor solution provider and in accordance with the definitive agreements entered into by the company with White Teak and the promoters of White Teak. Post-acquisition of 40% of the equity share capital, White Teak has become a wholly owned subsidiary of the company. The company had initially acquired 49% stake in April 2022 from the White Teaks promoters, Pawan Mehta and Gagan Mehta under share purchase agreement and other definitive agreements. In June 2023, it further increased shareholding by acquiring an 11% stake. Asian Paints is India's leading paint company and ranked among the top eight decorative coatings companies in the world. Asian Paints is engaged in the business of manufacturing, selling, and distributing paints, coatings, and products related to home dor and bath fittings and providing related services. The companys consolidated net profit tumbled 44.92% to Rs 1,256.72 crore on 4.27% decline in revenue from operations to Rs 8,329.59 crore in Q4 FY25 over Q4 FY24. The scrip rallied 3.06% to settle at Rs 2,359.25 on the BSE.
News18
10 hours ago
- Business
- News18
Asian Paints Acquires Remaining 40% Stake In White Teak; Details Here
Last Updated: Before the deal, shares of Asian Paints on June 27 surge by 3.01% to close at Rs 2,358.7 apiece on the BSE. Asian Paints, India's largest paint manufacturing company, has acquired the remaining 40% stake in lighting and home decor company White Teak for Rs 188 crore, according to a regulatory filing. 'It is now informed that the company has, today, acquired the balance 40% of the equity share capital of White Teak for a consideration of Rs 188 crores from the promoters of White Teak. Accordingly, the company now holds 100% of equity share capital of White Teak, by virtue of which White Teak has become a wholly owned subsidiary of the company," Asian Paints said in a late-night BSE filing on Friday, June 27. Shares of Asian Paints on June 27 surged by 3.01% to close at Rs 2,358.7 apiece on the BSE. In April 2022, Asian Paints had acquired 49% of equity shares in Obgenix Software Pvt Ltd (which operates under the brand name 'White Teak') from promoters Pawan Mehta and Gagan Mehta. Further, in April 2023, the company bought an additional 11% in White Teak. The company said the acquisition aligns with its strategy to offer end-to-end home décor solutions, expanding beyond paints into decorative lighting and accessories through White Teak. In the March 2025 quarter, Asian Paints reported a volume growth of 1.8% in its decorative business, which was below expectations. Its net profit during the January-March 2025 period declined 45% YoY to Rs 700.8 crore. Meanwhile, on June 27, JSW Paints announced that it will buy a 74.76 per cent stake in Dulux paint-maker Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore, totalling tad over Rs 12,915 crore. Sajjan Jindal-led JSW Paints' Rs 12,915-crore deal to acquire Dutch paint maker Akzo Nobel's India unit is among the biggest transactions in the country so far this year. It is slightly behind Japan's Sumitomo Mitsui Banking Corp's acquisition of a 20 per cent stake in Yes Bank for Rs 13,483 crore announced last month. The Sumitomo-Yes Bank deal was the largest cross-border investment in the Indian banking sector. First Published:
Mint
10 hours ago
- Business
- Mint
JSW fires a fresh salvo even as paintmakers battle to protect turf
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, according to Abneesh Roy, executive director for research at Nuvama Institutional Equities. 'But this is positive for JSW Paints. Over the next five years, we see Kansai, Akzo + JSW, Birla fight for the No. 3,4,5 slots, and also take some share from [other] local players." The sector is already grappling with tepid demand for decorative paints due to a slowdown in new construction and elongating repainting cycles. Birla Opus' discounting to win over market share is squeezing the profitability of incumbents. India's largest paintmaker Asian Paints Ltd's operating margin shrank to 17.7% in FY25 from 21.4% in FY24. To be sure, India's paints industry is expected to reach $15.04 billion by 2029, growing at an annualized rate of 9.38% from nearly $9.60 billion in 2024, according to a report by ICICI Direct. But the entry of two billionaire-led upstarts in the past half a decade has shaken up the long-standing leaderboard. While the exact market shares differ based on products such as decorative and industrial paints and associated materials like coatings and putty, industry insiders estimate that Birla Opus has achieved a podium position this year, and the JSW-AkzoNobel combine is within a striking range of the fourth position. They estimate the new pecking order as: Asian Paints, Berger Paints India, Birla Opus, Kansai Nerolac, JSW Paints (including Akzo Nobel India) and Indigo Paints. Analysts at Nuvama expect Asian Paints and Berger Paints to put up a fight to protect their sales. They are also positive on Indigo Paints. The companies are expected to snatch share from unorganized players, who still hold around 25% of the market. While the two upstarts have cornered market share from the incumbents rapidly, growth may be more challenging from here. 'A proper integration after acquisition is essential. Simply acquiring a company will not make you a strong player overnight. You have to work on multiple things before you are a force to be reckoned with," said an analyst on JSW Paints disrupting the market. He spoke on the condition of anonymity as he is not allowed to comment on an individual company before publishing a report. The $23-billion JSW Group, which started as a mining company, has diversified across key sectors like infrastructure, cement, e-commerce platforms and paints. JSW Infrastructure and JSW Energy are listed on the country's stock exchanges. JSW Cement got the market regulator's nod for going public in January. JSW Paints, launched in 2019, has a portfolio spanning decorative and industrial paints. The privately held JSW Group firm will acquire 74.76% in listed Akzo Nobel India Ltd from its Dutch parent Akzo Nobel N.V. and its affiliate for ₹8,986 crore, the company said in a press release. The transaction is priced at ₹2,639.4 per share, a 17.32% discount to Thursday's closing price, according to Mint calculations. In a post on X, JSW Paints managing director Parth Jindal, 35, said it was 'a historic day". 'Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens. We are excited to welcome them to the JSW family," he said in a statement. 'This transaction is a significant milestone in the execution of our strategy. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector," said Greg Poux-Guillaume, the CEO of AkzoNobel. The Dutch paintmaker had hinted at an exit from India in October last year, when it initiated a strategic review of the business. Apart from JSW Paints, Pidilite Industries Ltd and Indigo Paints Ltd were also in the race for acquiring Akzo Nobel India. Indigo paints, which has consolidated market share in recent years, had come close to entering the top 4 club. Meanwhile, adhesives major Pidilite Industries, which lost the race to buy Akzo Nobel India, is also looking to start its paints journey through in-house capacity development. The company plans to target a growing demand for decorative paints in non-urban areas, Mint reported on 27 March.
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Business Standard
21 hours ago
- Business
- Business Standard
Investors' wealth surges by ₹12.26 trillion in 4 days of market rally
Equity investors became richer by Rs 12.26 trillion as stock markets surged for the fourth day in a row on Friday amid de-escalation in geopolitical tensions and softening crude oil prices in international markets. On Friday, the BSE benchmark Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settled at 84,058.90. During the day, the Sensex jumped 333.48 points or 0.39 per cent to 84,089.35. In the past four days, the benchmark has jumped 2,162.11 points or 2.64 per cent. Tracking optimism in equities, the market capitalisation of BSE-listed firms soared by Rs 12,26,717.72 crore to Rs 4,60,09,217.58 crore ($5.38 trillion) in four trading days. "Benchmark indices Nifty and Sensex closed on a firm footing in the green on Friday, capping off the week with robust gains. The rally was underpinned by de-escalation in geopolitical tensions post the Israel-Iran ceasefire and growing optimism surrounding a prospective US-India trade pact, which acted as key macro tailwinds. On a weekly basis, both frontline indices logged gains of 2 per cent," according to Bajaj Broking market commentary. On Friday, as many as 2,251 stocks advanced, while 1,760 declined and 154 remained unchanged on the BSE. From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Bharat Electronics, Hindustan Unilever and Sun Pharma were among the major gainers. In contrast, Trent, Eternal, Tech Mahindra, Axis Bank and Titan were among the laggards. The BSE smallcap gauge climbed 0.54 per cent, and the midcap index went up by 0.38 per cent. Among BSE sectoral indices, oil & gas jumped 1.21 per cent, services (1.17 per cent), power (1.14 per cent), commodities (1.11 per cent), energy (1.10 per cent), utilities (0.99 per cent) and telecommunication (0.90 per cent).
