'We realised that partnering with a strong local player like the JSW Group would create far greater value than going it alone.'
JSW Paints, part of $23 billion JSW Group, on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm.
You have to grow, and grow fast - that's the DNA of the JSW group, chairman Sajjan Jindal said as JSW Cement made its debut on the stock market mid-August. The remark captured not just the moment but also the momentum of JSW's growth story.
Shailesh Jejurikar has 'always made an effort to stay close to his roots.'
Listed paint majors posted another lacklustre showing in the January-March quarter (Q4) of 2024-25 (FY25), with average revenue growth under 3 per cent. Sales were weighed down by Asian Paints - the market leader and the only major to report a year-on-year (Y-o-Y) decline.
The paint sector is seeing heightened competition with the entry of deep-pocketed groups like Aditya Birla and JSW. However, some brokerages see an opportunity in select stocks.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
"I am a corporate story teller. I write stories that people can relate to," says Partha Basu, author of Mid-Career Crisis...why some sail through and others don't, in which he charts out a plan to tackle mid-career crisis and offers insights into how you can achieve success in your career.
Power2SME, a one-stop shop for sourcing and buying raw materials for SMEs, is the only B2B firm in this space.
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