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According to the CCI's order dated July 1, Grasim alleged that Asian Paints was using restrictive trade practices to stifle competition. The complaint claimed that the company was discouraging distributors from selling Birla Opus products by offering incentives such as foreign travel and discounts in exchange for exclusivity. These benefits, it was alleged, were not based on any uniform dealer policy or performance metrics.
Grasim further stated that dealers who chose to stock Birla Paints faced several forms of retaliation. These included reduced credit limits, increased sales targets, withdrawal of incentives, and lower servicing priority. It was also alleged that Asian Paints curtailed access to customer leads and institutional business for such dealers, sometimes opening competing dealerships in their vicinity as a form of pressure. The complaint went on to allege that Asian Paints directed its dealers to reject tinting machines supplied by Birla Paints, restrained third-party suppliers from engaging with the new entrant, and coerced landlords, clearing and forwarding agents, and transporters to sever ties with the company. Grasim also claimed that it was subjected to a smear campaign.
Asian Paints, established in 1942, is the largest listed company in India's decorative paints segment. It operates in 15 countries with 27 manufacturing facilities globally and has been a market leader since 1967.
In a statement, the company said it is reviewing the order and will consider appropriate legal action. It also affirmed its commitment to cooperating fully with the CCI throughout the course of the investigation.
The company’s 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.
Asian Paints Ltd fell 1.06% today to trade at Rs 2343.75. The BSE Consumer Durables index is down 0.21% to quote at 59915.22. The index is up 3.82 % over last one month. Among the other constituents of the index, Berger Paints India Ltd decreased 1% and Voltas Ltd lost 0.38% on the day. The BSE Consumer Durables index went up 1.43 % over last one year compared to the 5.47% surge in benchmark SENSEX.
Asian Paints Ltd has added 3.38% over last one month compared to 3.82% gain in BSE Consumer Durables index and 2.97% rise in the SENSEX. On the BSE, 7307 shares were traded in the counter so far compared with average daily volumes of 59990 shares in the past one month. The stock hit a record high of Rs 3394 on 16 Sep 2024. The stock hit a 52-week low of Rs 2125 on 04 Mar 2025.
Karnataka Bank’s managing director (MD) and chief executive officer (CEO), Srikrishnan Hari Hara Sarma has resigned with effect from 15 July 2025. The board has also appointed Raghavendra Srinivas Bhat as the chief operating officer (COO) with effect from 2 July 2025.
Torrent Pharmaceuticals will acquire JB Chemicals from KKR in two phased at equity valuation of Rs 25,689 crore.
Waaree Energies said that its wholly owned subsidiary, Waaree Solar Americas received an order for supply 540 MW modules from a renowned customer who is a developer of utility scale solar and energy storage projects across United States.
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.
Rattanindia Enterprises said that its board is scheduled to meet on Wednesday, 2 July 2025, to consider raising funds through a rights issue or any other permissible mode.
Bharat Heavy Electricals (BHEL) said that it has received a letter of award (LoA) from Adani Power (APL) for setting up six thermal units of 800 MW. The total value of these contracts is Rs 6,500 crore, the company stated.
Prestige Estates Projects said that it has entered into an agreement with Arihant Group for jointly acquiring an agreement to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai from Rane Madras. The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated gross development value (GDV) of over Rs 1,600 crore.
Granules India announced that its wholly-owned foreign subsidiary, located in Chantilly, Virginia, USA, has received one observation in Form 483 from the United States Food and Drug Administration (USFDA).
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 Teak’s 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 décor and bath fittings and providing related services.
The scrip rallied 3.06% to settle at Rs 2,359.25 on the BSE.