News for Akzo Nobel India Limited (AKZOINDIA.BO)

India Business News: JSW Paints, under Sajjan Jindal, is nearing the acquisition of Akzo Nobel India, valuing Akzo Nobel NV’s stake at approximately Rs 9,000 crore. This d

JSW Paints is reportedly in exclusive talks to acquire Akzo Nobel India, potentially outbidding a consortium led by Advent International. The deal, offering a slight discount to the market price, could significantly boost JSW Paints' market position, especially in the luxury segment. However, Akzo Nobel India faces sector-wide challenges like shrinking margins and increased competition.

Industrial coatings business works with multiple partners and involves higher technological knowhow. If any of the suitors bid for the entire business, the Dulux maker may demand a valuation of up to $2 billion.

Berger Paints has decided to step aside from the race to acquire Akzo Nobel's India unit due to its high valuation. Abhijit Roy, the managing director, indicated that they would consider the acquisition at a fairer price. The company plans to enhance its distribution network to strengthen its presence and counter competition in the Indian market.

Asian Paints Sales Dip: Asian Paints reported a 23.5 per cent decline in consolidated net profit to Rs 1,128.43 crore for Q3 FY25, citing muted demand and a weak festive season. Revenue from operations fell 6 per cent to Rs 8,549.44 crore. Managing Director & CEO Amit Syngle noted subdued demand, particularly in urban areas, and increased expenses impacting margins.

Major paint companies like Pidilite, JSW Paints, Berger, and Indigo Paints have submitted bids for acquiring Akzo Nobel India. The acquisition is valued at approximately ₹13,107 crore, following Akzo Nobel NV's strategic decision to sell its Indian operations. This move comes amid growing consolidation in the Indian paints industry.

Stocks including Indo Farm Equipment, Bharti Airtel, Power Grid, Coal India, Vakrangee, IndiGo, Zydus Life, Vodafone Idea, NMDC and more will be in the spotlight on Tuesday, January 07.

The race for Akzo Nobel India includes Pidilite Industries, JSW Paints, and Indigo Paints, with a deal valued at $2-2.5 billion. The initial interest from Aditya Birla and Adani Group has shifted, indicating a significant change in the competitive landscape of the paint industry.

Stocks including Zomato, Escorts Kubota, RVNL, Cochin Shipyard, Alembic Pharma, RITES, Auro Pharma, HG Infra, CESC and more will be in the spotlight on Monday, November 26.

Over 40 companies will have their shares trade ex-dividend, with actions such as dividend payouts, bonus issues, amalgamations, and stock splits scheduled for the next five days.

Indian indices, Sensex and Nifty, closed lower on Tuesday, driven by declines in banking, financial, and auto stocks. Sensex fell 821 points and Nifty dropped 258 points. October CPI inflation rose to 6.21%, fueling market concerns for Wednesday.

Indian benchmark indices experienced their worst monthly performance since March 2020 due to record foreign outflows and weak corporate earnings. The NSE Nifty 50 fell by 0.56% and the BSE Sensex dropped by 0.69%, both losing around 6% in October. Analysts anticipate continued volatility, with key support for Nifty at 24,000 and resistance at 24,500.

Adani Group, Aditya Birla Group, JSW Paints and Asian Paints are in the fray to buy out Akzo Nobel India. All key bidders are keen to pay a premium for the business.

Stocks including NBCC, Jio Financial, GAIL (India), Adani Energy, Lupin, Paytm, Adani Wilmar, MTNL, TVS Supply Chain and more will be the spotlight on Monday, October 7.

Brent crude oil fell nearly 5 per cent on Tuesday. Crude oil is a key component in the production of certain raw materials used in the manufacturing of paints

The Nifty50 index ended slightly higher on Wednesday after hitting a record 25,129.6, driven by IT stock gains and expectations of a US rate cut. Analysts suggest Nifty faces resistance near 25,075-100 and could remain volatile within the 24,750–25,250 range.

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