Asian Paints shares in focus after Birla Opus files abuse complaint; CCI probe likely
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, holds 53% of the country's installed paint production capacity and has a vast distribution network of over 74,000 dealers across 1.6 lakh touchpoints.
Sources said the CCI is expected to soon initiate a formal investigation into the allegations, with an order for a probe likely in the near future.
Also Read:
Dixon Technologies, LIC Housing Finance among 10 mid-cap stocks analysts expect to gain up to 40%
Live Events
Asian Paints
Q4 Earnings
Asian Paints reported a 45% year-on-year decline in consolidated net profit to Rs 692 crore in Q4FY25, down from Rs 1,257 crore in the same period last year. Revenue from operations fell 4% YoY to Rs 8,330 crore.
Profit before depreciation, interest, tax, other income, and exceptional items (PBDIT) dropped 15% YoY to Rs 1,436 crore. The PBDIT margin slipped to 17.2% from 19.4%.
Asian Paints Share Price Target and Performance
According to Trendlyne, the average target price for Asian Paints is Rs 2,289, implying a potential upside of 2%. Of the 35 analysts covering the stock, the consensus rating is 'Sell'.
The stock has declined 23% over the past year and 30% over the last two years. Its current market capitalisation stands at Rs 2.15 lakh crore.
Also Read:
India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list
(
Disclaimer
: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
35 minutes ago
- United News of India
J&K, first among all States /UTs, to get sanction under PMGSY-IV
Srinagar, June 10 (UNI) J&K has become first among all States and UTs, to get sanction under Pradhan Mantri Gram Sadak Yojana-IV (PMGSY-IV). The biggest ever package sanctioned for J&K under PMGSY will provide connectivity to 390 eligible habitations with a population of more than 250 souls, an official spokesman said. Lieutenant Governor Manoj Sinha expressed gratitude to the Prime Minister Narendra Modi and Union Minister for Rural Development Shivraj Singh Chouhan for sanctioning 316 road projects in J&K UT, at an estimated cost of Rs.4224 Cr under Batch-I of PMGSY-IV. The Lieutenant Governor observed that the approved 1781 KMs road length will provide a major boost to rural road connectivity and usher in a new era of prosperity in far-flung areas. 'Grateful to Hon'ble PM Shri Narendra Modi Ji & Hon'ble Union Minister of Rural Development Shri Shivraj Singh Chouhan Ji for sanctioning 316 road projects at an estimated cost of Rs.4224 Cr under Batch-I of PMGSY-IV for providing connectivity to 390 no. of eligible habitations,' Lieutenant Governor posted on X. UNI MJR GNK
Hans India
37 minutes ago
- Hans India
PM Modi helm ushers unprecedented growth, says Punjab BJP chief
Chandigarh: The 11-year governance of the BJP under Prime Minister Narendra Modi has ushered in a period of unprecedented growth in the country. India has become the fourth-largest economy in the world, Punjab unit party President Sunil Jakhar said on Tuesday. Lauding the phenomenal growth rate of the country, he told the media here that 'our nation has crossed even Japan in term of growth'. 'This is no coincidence but absolute commitment to work on policies, principles and prioritise to ensure that decisions which usher in change for the country were taken in the past 11 years.' While recalling various achievements of the Bharatiya Janta Party (BJP) rule, Jakhar said it was a great achievement that 81 crore people were being given free rations, 55 crore had been given health insurance advantages, four crore houses for the disadvantaged were built, 50 crore households were provided drinking water facilities and crores of toilet's have been built across the nation. Jakhar reasoned that India's 6.5 GDP has led to industrial growth which has translated into employment for the people. 'The infrastructure of the nation, be it the extensive construction of highways or bridges, has changed the entire landscape of the country, ushering in progress and prosperity. A voluminous 55,000 km of highways and expressways is a phenomenal achievement.' Hailing the vision of Prime Minister Modi, the Punjab BJP chief said in 2014 there were only eight AIIMS in the country. 'Today we have 24, three times more in 11 years. In Punjab, we have an AIIMS Bathinda, which is a huge medical facility and soon more hospitals of this level will be established in other towns in the state.' Jakhar emphasised that women rights and equality were a keen concern of the BJP and the women reservation Bill to be passed. 'The social fabric of the country has become more progressive with equality and distribution of wealth and opportunity for all is a reality. The ease-of-living and ease-of-doing business has improved the lives of millions. The substantial increase in MSP (minimum support price) has led to increased income in Punjab as we are primarily an agricultural economy. The food grain purchase in the state this year was Rs 68,771 crore till date, while in 2014 it was Rs 32,211 crore,' he explained. Answering a media query about Congress leader Rahul Gandhi that 11 years have not seen any progress, Jakhar said: 'The 6.5 growth rate, the fourth-largest economy in the world, the development in the infrastructure, women empowerment, passing of significant Bills are all to see but unfortunately, if someone wants to have a myopic view then it is lamentable.'
Indian Express
39 minutes ago
- Indian Express
Maharashtra govt hikes excise duty on liquor, introduces local category MML
In a move set to significantly impact liquor prices across Maharashtra, the state cabinet on Tuesday approved a hike in excise duty on Indian Made Foreign Liquor (IMFL), country liquor, and imported alcohol. The government also cleared the introduction of a new category Maharashtra Made Liquor (MML) in a bid to expand the state's revenue base. The decision is expected to raise the state's annual excise collection by approximately Rs 14,000 crore. Prices of IMFL and premium foreign liquor brands are likely to increase by at least 50 per cent, officials said. The excise duty on IMFL has been increased from three times the manufacturing cost to 4.5 times, specifically affecting products with a manufacturing cost of Rs 260 per bulk litre. The duty on country liquor has also gone up from Rs 180 to Rs 205 per proof litre. A 180 ml bottle of country liquor will now cost a minimum Rs 80, up from Rs 60–Rs 70, while IMFL prices will rise to Rs 205, up from Rs 115–Rs 130. Premium foreign liquor may now cost Rs 360, up from Rs 210. This is the first revision of excise duty in Maharashtra since 2011. The state also approved a policy allowing liquor vending (FL-2) and on-premise sale (FL-3) licence holders to operate on lease with an additional 15% and 10% of the annual licence fee, respectively. The newly announced Maharashtra Made Liquor (MML) category aims to fill the pricing gap between country liquor and IMFL. It will be made from grain-based alcohol, and only products manufactured and registered within the state will qualify. National or foreign brands will not be eligible for inclusion. MML will have a country liquor tax structure but will only be sold through FL-2 and FL-3 licensees. The government estimates the current size of this segment at 5–6 crore litres, which could potentially grow to 10–11 crore litres, generating up to Rs 3,000 crore in additional revenue. Officials also claimed the move would benefit local farmers by raising demand for grain. 'Maharashtra has 70 licensed alcohol manufacturers, but 38 are currently inactive as they can't compete with established foreign brands,' a senior excise department official said. 'MML is intended to revive these units and promote local industry.' Experts from the alcoholic beverage industry have expressed concern over the steep tax. 'Maharashtra was the most highly taxed state in the country in terms of this industry. The new decision is likely to make the situation worse. High prices in a particular state leads to the smuggling of alcohol from less taxed states or from neighbouring states. At the look of it, I think this decision is far from ground reality and not a good decision,' said Pramod Krishna, former Director General, Confederation of Indian Alcoholic Beverage Companies.
