Latest news with #JSWPaints'
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Business Standard
01-07-2025
- Business
- Business Standard
It's natural for JSW Paints, AkzoNobel India to merge ops: Parth Jindal
Parth Jindal says JSW Paints' acquisition of AkzoNobel India will strengthen decorative and industrial paint segments; Dulux, tech tie-up key to long-term strategy Sharleen Dsouza Dev Chatterjee Mumbai Listen to This Article In a $1.4 billion deal signed last week, JSW Paints acquired AkzoNobel India, marking a major step in its ambition to become one of the top three players in India's highly competitive paint market. In an exclusive conversation with Sharleen D'Souza and Dev Chatterjee, Parth Jindal, Managing Director of JSW Paints, and Gregoire Poux-Guillaume, CEO of Amsterdam-based AkzoNobel NV, discuss the strategic rationale, potential synergies, and the road ahead for both companies. What made JSW Paints so bullish about the acquisition of AkzoNobel India?
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Business Standard
30-06-2025
- Business
- Business Standard
Rupee ends flat in H1 2025; snaps two-day gains to close at 85.76/$
Indian Rupee snapped two days of gains on Monday, even as the dollar index and crude oil prices were trading in the red. The domestic currency closed 28 paise lower at 85.76 against the dollar, according to Bloomberg. The depreciation comes after the currency logged its best week since January 2023, driven mainly by a plunge in crude oil prices amid Iran-Israel conflicts. The unit has depreciated by around 0.21 per cent in June and has fallen by 0.18 per cent in the first six months of the calendar year. Some outflows may occur during the day due to JSW Paints' acquisition of Akzo Nobel India and HDB Financial's IPO allotment, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Meanwhile, the dollar index traded lower as trade deals are back in focus with the July 9 deadline approaching for the US reciprocal tariffs to kick in. The US dollar index, which measures the greenback against a basket of six major currencies, was down 0.18 per cent at 97.22. Last week, US President Donald Trump touted that a "very big" trade deal could be signed with India soon. India's negotiators have extended their stay in Washington to seal the deal before the deadline, according to a Bloomberg report. India's current account balance recorded a surplus of $13.5 billion (1.3 per cent of GDP) in the January-March quarter of 2024-25 as compared with $4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said on Friday. The current account was in deficit of $11.3 billion (1.1 per cent of GDP) in the December quarter of 2024-25. In commodities, oil prices extended their fall after posting their biggest weekly plunge in over two years before a likely Opec+ supply hike. Brent crude price was down 0.15 per cent at $67.67 per barrel, while WTI crude prices were higher by 0.29 per cent at 65.33, as of 3:40 PM IST.
