"The Commission is of the view that evidence provided by JSW Paints is prima-facie sufficient to indicate that Asian Paints has denied access to the distribution channels in the relevant market to JSW Paints by threatening and coercing such dealers through various means," the fair trade regulator said.
In a filing with the stock exchanges, the company said it is buying 95.53% stake of STPL. Balance 4.47% stake will remain with STPL’s existing shareholders.
The ingredients of Indian yellow were a mystery until the secret was revealed in the 19th century. It was prepared from the urine of cows fed only mango leaves and made exclusively in the village of Mirzapur, the yellow pigment was refined by heating the liquid and pressing it into round balls.
The services will be backed up by technologies for transport and warehouse management.
Established in 2000, Indigo Paints is a relatively new entrant to the decorative paints industry that is dominated by the like of Asian Paints, Berger and Nerolac.
The Sajjan Jindal-led JSW group’s JSW Paints entered the highly competitive paints industry in India with an initial investment of Rs 600 crore.
“Since the reduced GST rate will push up demand, we expect a 10-15% growth in sales this fiscal,” said Mr Mahesh Anand, vice president, Indian Paint Association.
Berger Paints, which has a manufacturing facility in Russia for the past four-five years, is now looking to scale up and is even weighing the possibility of acquiring assets in that country.
the second half of FY18 due to GST as well rising input costs.
The board of directors of the company has approved installation of an integrated paint plant with water and solvent-based decorative, the company said.
The move is aimed at tapping the growing demand for high-quality, green paints in the country as a result of increasing consciousness among consumers for the environment.
The company found its next big act in the B2C painting services with its Ezycolour Consultancy for offering color, décor, and Vastu inspired solutions to customers.
Bharuka has been with KNPL since 1985, and has been leading the company’s growth in the paint industry, including industrial and decorative coatings segment in India.
Berger Paints makes industrial paints and consumer products like metal and wood paints, interior wall coatings, exterior wall coatings and clear coats for wood.
"It is no-loss no-gain situation for the paints industry. At the existing rate structure, taxes on paints come to just above 28 per cent", newly-elected president of IPA said.
Company officials are optimistic that the superior automotive refinish paints will have considerable demand in the Rs 2,000 crore automotive refinish market in India
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