ASIANPAINT

**Shares of Asian Paints ASPN.NS up 1.8% to 2,160 rupees

**As per media reports, the company hikes prices between 6% and 8% across its decorative portfolio in two phases starting April 10

**Follows a 1%-2% price hike by Berger Paints BRGR.NS and 2%-3% price hike by Kansai Nerolac KANE.NS effective March 25

**Macquarie ("Outperform"; PT: 3,100 rupees) says co's price hike is part of historical patterns of companies taking price hikes to pass on input inflation

**Brokerage believes margin headwinds linked to input cost inflation are more near-term in nature

**Stock rated as "Hold" on average by 35 analysts; median PT at 2,730 rupees per data compiled by LSEG

**YTD, stock down 21.5%

(Reporting by Mridula Kumar in Bengaluru)

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** Shares of Asian Paints ASPN.NS slides 6% to 2,466.6 rupees

** Shares fell 3% on Tuesday after company posted surprise profit drop

** Consol net profit fell 4.5% to 10.6 billion rupees ($115.69 million) for the Dec quarter

** Profit was impacted by one-time charge of 1.58 billion rupees tied to the country's new labour laws, outweighing strong volume growth in its mainstay decorative paint segment

** UPS ("Neutral"; PT: 2,900 rupees) says demand remained soft due to extended monsoon and an early Diwali pushing festive buying into the previous quarter

** Brokerage says the company aims for volume growth of 8% to 10% in the coming quarters

** Stock rated as "hold" on average by 32 analysts; median PT at 2,723 rupees - LSEG data

** Stock rose 21.4% in 2025

($1 = 91.6230 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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Jan 27 (Reuters) - Asian Paints Ltd ASPN.NS:

• INTERNATIONAL BUSINESS TO AID GROWTH MOMENTUM IN Q4

Source text: ID:nNSE1q8yVb

Further company coverage: ASPN.NS

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** Shares of Asian Paints ASPN.NS rise 1.8% to 2,919 rupees
** Top gainer on the benchmark Nifty 50 index .NSEI, which is down 0.55%
** UBS upgrades stock to "neutral" from "sell"
** Lifts PT to 3,200 rupees, an upside of 12% to last close, from 2,100 rupees earlier
** Brokerage notes the paintmaker has delivered double-digit volume growth and better-than-expected results in Q2 despite weak demand environment
** UBS sees ASPN's H2 volume outlook as a positive, and expects market conditions to improve in near term
** ASPN had said it intends to maintain volume momentum in H2
** Stock set for best session since Nov. 13, when ASPN jumped on Q2 profit beat
** Avg rating of 35 analysts is "hold", median PT is 2,750 rupees, ~6% lower than current price - data compiled by LSEG
** YTD, ASPN up ~28%

(Reporting by Anuran Sadhu in Bengaluru)

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Nov 12 (Reuters) - Asian Paints ASPN.NS, India's largest paint-maker by market share, reported a rise in quarterly profit on Wednesday, helped by strong domestic volume growth in decorative paints and a low base after its earnings slumped a year earlier.

Consolidated net profit rose 43% to 9.94 billion rupees ($113.1 million) for the July-September quarter.

The paint-maker's profit halved to 6.95 billion rupees in the year-ago quarter.

($1 = 87.8950 Indian rupees)

(Reporting by Hritam Mukherjee and Anuran Sadhu in Bengaluru; Editing by Sonia Cheema)

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By Aditya Kalra

NEW DELHI, Sept 11 (Reuters) - An Indian court on Thursday dismissed a plea by Asian Paints ASPN.NS to quash an ongoing antitrust inquiry against the company, six people familiar with the proceedings said.

The Competition Commission of India is investigating Asian Paints, which has a 52% market share, after officials found merit in a complaint filed by rival Birla Opus that the country's biggest paints maker had abused its dominant position by offering discounts and incentives to dealers.

Asian Paints sought to quash the inquiry in July by mounting a challenge at the High Court in Mumbai, arguing that CCI officials damaged its reputation by publishing – and then deleting – allegations against its CEO from the investigation order.

The High Court in a brief hearing on Thursday dismissed the company's plea, and a detailed order will be issued later, said the six sources.

The court said it found "no merit" in Asian Paints' plea, one of the sources said.

Asian Paints did not respond to a request for comment.

The CCI and Birla Opus - the paints arm of Aditya Birla Group company Grasim Industries GRAS.NS, led by billionaire Kumar Mangalam Birla - also did not respond to requests for comment.

Rapid infrastructure and real estate growth in India, one of the world's fastest-growing economies, has made the paints business a lucrative sector worth around $9.5 billion.

Birla dented Asian Paints' dominance after its launch in February 2024, growing rapidly to a near 7% market share by March this year, Elara Capital data shows.

The CCI's initial review showed Asian Paints imposed what it called unfair conditions on dealers, which it considered "exploitative conduct".

(Reporting by Aditya Kalra; Editing by Kirsten Donovan)

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Aug 4 (Reuters) - PPG Industries Inc PPG.N:

• PPG, ASIAN PAINTS RENEW INDIA JOINT VENTURE IN 15-YEAR AGREEMENT

• PPG INDUSTRIES INC - EXTENSION EFFECTIVE 2026 THROUGH 2041

Source text: ID:nBwQSSrxa

Further company coverage: PPG.N

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July 30 (Reuters) - ** Asian Paints ASPN.NS, India's largest paint-maker by market share, reported Q1 profit in line with market estimates on Tuesday

** Shares up 0.8%

TWO STEPS FORWARD, ONE STEP BACK

** Motilal Oswal ("neutral"; PT: 2,500 rupees) says exciting days far away for co

** Adds while co seeing some urban green shoots, uncertainty in demand and intense competition, softening raw material prices not rendering required confidence in earnings

** Ambit Capital ("sell"; PT: 2,070 rupees) says margin pressures to intensify as anti-dumping duty on Chinese imports seen driving up costs for co, despite controlled channel spends

** Cuts FY26 EBITDA estimates by 5%

** Centrum ("add"; PT: 2,650 rupees) says co taking two steps forward and one step back

** Sees persisting challenges in near-term competitive intensity, despite positive demand commentary

** Notes raw material softness to be offset by anti-dumping duty, co's growing ad spends, discounting margins

(Reporting by Kashish Tandon in Bengaluru)

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July 29 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS - SEEING SOME EARLY SIGNS OF REVIVAL IN OVERALL DEMAND CONDITIONS

• ASIAN PAINTS - GREEN SHOOTS SEEN IN URBAN MARKETS

• ASIAN PAINTS - EXPECTS COMPETITION TO REMAIN INTENSE IN Q2

Source text: ID:nBSEkNZPs

Further company coverage: ASPN.NS

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By Aditya Kalra, Arpan Chaturvedi and Aditi Shah

NEW DELHI, July 25 (Reuters) - India's biggest paints maker, Asian Paints ASPN.NS, is seeking to quash an antitrust inquiry, arguing that officials damaged its reputation by publishing – and then deleting – allegations against its CEO from the investigation order, legal papers show.

Rapid infrastructure and real estate growth in India, one of the world's fastest-growing economies, has made the paints business a lucrative sector worth around $9.5 billion.

The Competition Commission of India is investigating Asian Paints, which has a 52% market share, after officials found merit in a complaint filed by rival Birla Opus that Asian Paints had abused its dominant position by offering discounts and incentives to dealers.

In a court challenge, Asian Paints told Mumbai judges the CCI's July 1 order contained an allegation that its CEO warned raw material suppliers in a meeting that they would get less business from the company if they dealt with Birla.

Within 24 hours, the reference was deleted and a new modified order was issued by the CCI, Asian Paints said in the filing, adding that both orders were still online and such an unexplained change was against legal procedures.

"The concurrent existence of two different orders ... has undermined the integrity of the proceedings, creating confusion in the market," Asian Paints said in its July 14 high court filing, seen by Reuters.

"The contents of the first impugned order have also caused grave reputational damage to the petitioner and to its CEO."

The CCI did not respond to Reuters queries on Asian Paints' lawsuit or why the changes were made to its order.

Asian Paints, its CEO Amit Syngle and Birla Opus, the paints arm of billionaire Kumar Mangalam Birla's Grasim Industries GRAS.NS, also did not respond to queries.

Reuters is first to report the contents of Asian Paints' 250-page lawsuit, which is not public.

Birla has dented some of Asian Paints' dominance after it launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.

Asian Paints also presented a table to the judge citing other changes made in the revised order, including the deletion of a reference that its representatives were allegedly concerned about some dealers using Birla's specialist paint devices.

Making such changes indicates the CCI took its decision with a "pre-meditated mind", Asian Paints' filing said.

Ahead of the CCI's decision to investigate, Reuters on June 6 first reported Birla's confidential antitrust complaint against Asian Paints. Asian Paints submitted that story to the CCI and also inquired about the case, the filing shows.

Asian Paints' court challenge will be heard on August 6.

(Reporting by Aditya Kalra, Arpan Chaturvedi and Aditi Shah
Editing by Mark Potter)

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Adds details on results, analyst comments, share milestone

July 21 (Reuters) - Shares of Reliance Industries RELI.NS fell about 2% on Monday after the conglomerate's energy and retail segments reported first-quarter results below analysts' expectations on Friday.

Reliance, one of the heaviest-weighted stocks in the benchmark Nifty 50 index .NSEI, was a top drag, pressuring the index and limiting upside. The index was slightly higher by 0.3% as of 10:15 a.m. IST.

On Friday, Reliance posted a 78% surge in first-quarter profit, helped by a jump in income from the sale of its stake in Asian Paints ASPN.NS.

However, earnings before interest, taxes, depreciation, and amortization (EBITDA) in its key oil-to-chemicals (O2C) and retail segments came in below several analysts' expectations.

The company said planned shutdowns at its Jamnagar refinery in the western state of Gujarat hurt its refining operations, while seasonal weakness in consumer electronics weighed on retail growth.

"Reliance's share price could see a near-term moderation post this result print," Macquarie analysts said in a note.

Reliance shares are up about 19% so far this year, compared with a 5.9% gain in the Nifty 50 index .NSEI.

Despite the mixed bag, at least 10 analysts raised their price targets on the stock after the results, with the median price target rising to 1,640 rupees from 1,565 rupees a month ago.

Analysts noted the expectations of a recovery in gross refinery margins would likely be a driver for O2C growth this year, and also expected strong growth in the retail and telecom unit Jio.

"Retail and Jio are likely to accelerate, and the new energy ecosystem is expected to fully operationalise in four to six quarters, with partnerships and a self-funded model in a few years," Emkay analysts said in a note.

Meanwhile, in an interaction with analysts on Friday, Reliance said that the company was "evaluating" the European Union's newer sanctions on Russia. Reliance is among the top buyers of cheaper Russian crude.

"We believe that we are pretty diversified," Srinivas Tuttagunta, chief operating officer of Refining & Marketing, Reliance Industries said.

(Reporting by Sethuraman NR; Editing by Janane Venkatraman)

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Adds details of gains in paragraph 3, Jio Infocomm results in paragraph 9

By Chandini Monnappa and Sethuraman N R

July 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Industries RELI.NS reported a better-than-expected 78% surge in first-quarter profit on Friday, driven by strong growth across key businesses and gains from the sale of its stake in Asian Paints ASPN.NS.

The profit jump was underpinned by a recovery in Reliance's core oil-to-chemicals segment, which benefited from improved refining margins and petrochemical demand. Strong performances from its retail and digital services arms also bolstered earnings.

Additionally, a sharp rise in other income, led by the sale of its stake in Asian Paints, boosted profit. The conglomerate's other income nearly quadrupled to 151.19 billion rupees in the June quarter, with 89.24 billion rupees stemming from the investment sale.

Reliance, India's biggest company by market value, in June sold a stake in Asian Paints >, worth about $1.12 billion.

Reliance Retail and Jio, which together account for roughly 45% of the company's revenue, had been the engine powering the conglomerate's earnings in the six months to March, while offsetting a slowdown in the oil-to-chemicals segment, its largest revenue contributor.

Reliance's consolidated profit jumped to 269.94 billion rupees ($3.14 billion) in the June quarter, up from 151.38 billion rupees a year earlier, smashing analysts' estimate of 198.59 billion rupees, according to LSEG data.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the oil-to-chemicals business rose 10.8% to 145.11 billion rupees.

EBITDA from its Jio Platforms rose 23.9% year-on-year, the strongest growth among its segments, while retail EBITDA increased 12.7%.

Jio Infocomm, its telecom unit, logged a 23.3% rise in net profit, while revenue rose 16.6%.

The company said it was on track to set up its planned "giga factories" in the next four-to-six quarters and that, once operational, the business would be self-sustaining, without requiring further investment from Reliance.

Reliance, which operates the world's largest refining complex in Jamnagar, Gujarat, announced a $10 billion investment in 2021 to build its green energy portfolio and achieve net-zero carbon emissions by 2035.

($1 = 86.0620 Indian rupees)

(Reporting by Sethuraman NR and Chandini Monnappa; Editing by Anil D'Silva and Pooja Desai)

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July 9 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - SELLS 20,10,626 SHARES IN AKZO NOBEL INDIA

• ASIAN PAINTS LTD - SALE EXECUTED AT 3,651 RUPEES PER SHARE THROUGH BULK DEAL

Source text: ID:nNSE24Cjkz

Further company coverage: ASPN.NS

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July 3 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - CCI ISSUES ORDER TO INVESTIGATE ASIAN PAINTS

• ASIAN PAINTS LTD - CCI REVISES ORDER AGAINST ASIAN PAINTS

• ASIAN PAINTS LTD - TO REVIEW AND COOPERATE WITH CCI ORDER

Source text: ID:nBSE8JC7yX

Further company coverage: ASPN.NS

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July 2 (Reuters) - A shareholder in India's Nykaa FSNE.NS, Hong Kong-based investor Harindarpal Singh Banga and his family, plan to sell stake worth 12.84 billion rupees ($149.93 million) in the beauty products retailer through a block deal, news portal NDTV Profit reported on Wednesday.

The sale will likely be at a 4% discount to Nykaa's current market price, the report said, citing people aware of the development.

Nykaa's shares closed 2.2% higher at 211.59 rupees. The company did not immediately respond to a Reuters request for comment.

Banga, who invested in Nykaa before it went public, owned 4.97% stake in the company as of March 2025, exchange data showed. He pared some of his stake in August last year, selling 40.9 million shares via a bulk deal.

The Indian market logged $5.5 billion worth of secondary market sales by large shareholders of listed companies last month, according to LSEG data. These include Reliance Industries' RELI.NS stake sale in Asian Paints ASPN.NS and British American Tobacco's $1.5 billion stake sale in ITC ITC.NS.

($1 = 85.6420 Indian rupees)

(Reporting by Manvi Pant; Editing by Janane Venkatraman)

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July 1 (Reuters) - India's antitrust body on Tuesday ordered an investigation into Asian Paints ASPN.NS after a complaint by Aditya Birla Group's paints venture, according to an order.

The Competition Commission of India's initial review showed Asian Paints had breached competition laws, the order showed.

(Reporting by Chris Thomas in Bengaluru; Editing by Shreya Biswas)

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Recasts, adds detail on industry, market share, analyst comments

By Hritam Mukherjee and Manvi Pant

BENGALURU, June 27 (Reuters) - JSW Paints will buy Dutch paint maker Akzo Nobel's AKZO.AS Indian arm for about $1.6 billion, in what will be the country's biggest deal yet in the sector as competition intensifies between established players and new entrants.

The deal comes as challenges for Indian paint makers mount, including volatile raw material costs and heightened competition, with billionaire Kumar Mangalam Birla's entry into the sector last year eating into Asian Paints' market share.

Dulux Paint-owner Akzo Nobel had announced a review of its South Asia operations last year to rein in costs and boost its core coatings business.

Shares of Akzo Nobel India jumped more than 11% after the deal was announced, and were trading 7.6% higher in Mumbai at around 0830 GMT.

India's paint and coatings market is expected to reach $16.37 billion in size by 2030, Mordor Intelligence estimates, from $10.46 billion in 2025, driven by a boom in infrastructure and real estate development.

The deal, which includes debt, will be the Indian paint sector's biggest deal on record, Dealogic data showed.

JSW Paints, launched in 2019 and part of the $23 billion JSW Group, will buy a 74.76% stake in Akzo Nobel India for $1.05 billion and launch an open offer for the roughly 25% held by public shareholders.

Parent Akzo Nobel, the fourth-largest paint maker in the world by market capitalisation behind PPG, Nippon Paint 4612.T and Sherwin-Williams SHW.N, will continue to retain its research and development centre and powder coatings business in India.

GROWING COMPETITION

Once completed, the deal will propel JSW Paints to fourth place by market share in a sector dominated by Asian Paints ASPN.NS, Berger Paints BRGR.NS and Kansai Nerolac KANE.NS, according to Geojit Financial Services analyst Antu Thomas.

Birla-owned Grasim launched Birla Opus in 2024, crowding the already-competitive market. Birla has since filed an antitrust complaint against Asian Paints for allegedly abusing its market position, Reuters has reported.

In 2022, the competition regulator closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no breach of competition laws.

"While this acquisition offers JSW Paints a significant scale-up opportunity, near-term integration challenges could provide an opportunity for incumbent players to strengthen their market position in the luxury segment," Amit Purohit, vice president at Elara Capital said.

Akzo Nobel is likely to rake in 900 million euros in net proceeds and plans to launch a 400 million euro share buyback program after the deal's closing, which is expected in the fourth quarter of 2025.

(Reporting by Hritam Mukherjee and Manvi Pant in Bengaluru; Additional reporting by Dimitri Rhodes; Editing by Mrigank Dhaniwala, Vijay Kishore, Aditya Kalra and Rachna Uppal)

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Adds details, background from paragraph 2 onwards

June 16 (Reuters) - Billionare Mukesh Ambani-led Reliance Industries RELI.NS on Monday sold shares worth 18.76 billion rupees ($218.32 million) in Asian Paints ASPN.NS through a bulk deal, exchange data showed.

The conglomerate, through affiliate Siddhant Commercials, sold 8.5 million shares in Asian Paints to ICICI Prudential Life Mutual Fund, for 2,207 rupees apiece. The price reflects a 0.3% discount to Asian Paint's Friday's close.

Last week, Reliance sold shares worth $901 million in the paintmaker, trimming its stake to 0.9% from 4.9% as of March-end 2025.

Asian Paints, India's largest paintmaker, is currently facing a potential antitrust scrutiny, with its growth being challenged by new entrants like Aditya Birla Group's Birla Opus.

Last week, Reliance said it had a balance of 8.7 million shares in Asian Paints, while Monday's stake sale reduces the balance to roughly 200,000 shares.

($1 = 85.9290 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber)

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** Asian Paints ASPN.NS set for fourth straight weekly fall, longest losing run in 2025

** Set to slip 1.6% this week

** India's biggest paintmaker is grappling with rising competition, customer spending cutbacks

** Earlier in the week, Morgan Stanley said it expects co to lose 209 bps of market share over FY25-28

** Investec said dealer addition pace has "slowed down materially"; keeps "sell" call

** "For the first time in its annual report, Asian Paints acknowledged heightened competition ... is posing challenges" - Investec

** On Thursday, Mukesh Ambani's Reliance RELI.NS cut stake in co, selling shares at a discount

** ASPN the only major paintmaker stock which is rated "sell" on an avg - data compiled by LSEG

** YTD stock down 3% while benchmark Nifty .NSEI up ~5%

(Reporting by Hritam Mukherjee in Bengaluru)

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June 12 (Reuters) - Reliance Industries Ltd RELI.NS:

• RELIANCE INDUSTRIES LTD - SELLS 35 MILLION ASIAN PAINTS SHARES AT 2,201 RUPEES PER SHARE

• RELIANCE INDUSTRIES - SHARES OF ASIAN PAINTS HELD BY CO THROUGH SIDDHANT COMMERCIALS HAVE BEEN SOLD

• RELIANCE INDUSTRIES LTD - RETAINS 8.7 MILLION ASIAN PAINTS SHARES

Source text: ID:nBSE1V12xN

Further company coverage: RELI.NS

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By Aditya Kalra

NEW DELHI, June 6 (Reuters) - Aditya Birla Group's Indian paints venture has filed an antitrust complaint against market leader Asian Paints for allegedly abusing its market position, three sources said, a case that could lead to a stand off between the two industry rivals.

Asian Paints is India's biggest player with a 52% market share, but it has lost some of its dominance after Birla Opus launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.

The Competition Commission of India (CCI) has in recent weeks been reviewing a confidential complaint filed by Birla Opus alleging abuse of its position by Asian Paints, said the two sources, who declined to be named as the discussions are private.

The CCI is yet to decide if the complaint holds merit and needs a broader probe by its investigations unit, or should be dismissed.

One of the sources familiar with the matter said the allegations from Birla say Asian Paints ASPN.NS had asked its retail dealers to not stock the rival's products and had warned of restricting their credit facilities if they do so.

Birla Opus, the paints arm of the Aditya Birla Group company Grasim GRAS.NS, did not respond to Reuters queries. The group is led by billionaire Kumar Mangalam Birla, India's seventh richest person ranked by Forbes.

Asian Paints and the CCI did not respond to Reuters queries.

Reuters is first to report the antitrust case, details of which - in line with watchdog's policy - are not made public.

The first source added that Asian Paints also allegedly told its dealers it will curtail its supplies to them if they put up hoardings of Birla paint products or place them at prominent places.

Asian Paints has not been told about the case, according to a source with direct knowledge. But it had received some media queries and has told the CCI in a confidential letter - seen by Reuters - that the company must be allowed fair comment before any decision is taken.

"The rapid and substantial growth of Birla Opus demonstrated the absence of any significant barriers to entry or anti-competitive conduct by existing players," Asian Paints letter to the CCI stated.

Birla has expanded its paints business in the $9.5 billion sector, starting last year with an investment of $1.2 billion, with five plants operational now. Asian Paints ASPN.NS clocked revenues of 294 billion Indian rupees ($3.43 billion) in 2024-25, and has 26 factories globally.

In 2022, the CCI closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no contravention of competition laws.

(Reporting by Aditya Kalra; editing by David Evans)

((Email: [email protected]; X: @adityakalra;))

** Shares of Asian Paints ASPN.NS down 0.5% at 2292 rupees

** For the week, ASNP is down 4.5%, set for its worst weekly fall since mid-December, if losses hold

** ASPN said on Thursday demand conditions were at their worst in decades, unlikely to improve in near term

** Co missed estimates for fourth-quarter profit and reported a drop in sales

** Management indicated double-digit volume growth for FY26 looks highly unlikely, we see challenges of muted demand compounded by entry of new players - Investec

** ASPN up 1% in 2025 vs a 1.5% rise in Nifty 50 .NSEI

(Reporitng by Nishit Navin and Hritam Mukherjee)

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May 8 (Reuters) - Asian Paints Ltd ASPN.NS EXEC:

• POSSIBLY NOT SEEN SUCH DEMAND CONDITIONS IN LAST TWO DECADES

• FY25 PERFORMANCE HURT BY DOUBLE WHAMMY OF MARKET SLOWDOWN, INTENSE COMPETITION

• NO TWO WAYS THAT WE HAVE TO SPEND MORE IN THE MARKET GOING FORWARD

• DID NOT ANTICIPATE THE COMPETITIVE INTENSITY THAT CAME UP IN THE LAST YEAR

• POSSIBLE CO HAS LOST SOME MARKET SHARE TO UNORGANISED PLAYERS, COMPETITION

• SEEING CUSTOMERS POSTPONING REPAINTING, DOWNTRADING WITHIN PRICE SEGMENTS

Source text: [ID:]

Further company coverage: ASPN.NS

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March 27 (Reuters) - Asian Paints Ltd ASPN.NS:

• SETTING UP OF MANUFACTURING FACILITY FOR VAM AND VAE

• INITIAL PROJECT COST ESTIMATED AT 25.60 BILLION RUPEES

• BOARD APPROVES ADDITIONAL CAPEX OF 6.90 BILLION RUPEES

Source text: [ID:]

Further company coverage: ASPN.NS

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Feb 28 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - GETS TOTAL TAX DEMAND OF 41.2 MILLION RUPEES

Source text: ID:nNSELW0Cb

Further company coverage: ASPN.NS

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Feb 14 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - TO SELL INDONESIA BUSINESS FOR SGD 7.5 MN

• ASIAN PAINTS LTD - TO CEASE OPERATIONS IN INDONESIA

• ASIAN PAINTS LTD - EXPECTED LOSS OF 900 MILLION RUPEES FROM INDONESIA DIVESTMENT

Source text: ID:nBSE8y7pYs

Further company coverage: ASPN.NS

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Rewrites with management commentary from post-earnings call

By Hritam Mukherjee

Feb 7 (Reuters) - Akzo Nobel India AKZO.NS said on Friday it expects the demand for paints to recover from the second half of the year after the effects of the federal budget's consumption-boosting proposals filter through essential items before influencing discretionary purchases.

Last week, the government dished out its biggest income tax relief in at least a decade, hoping that higher disposable incomes would boost demand and consumption, thereby lifting the economy.

However, the effects of that on the demand for discretionary items such as paints will only start from the second half of this year, Akzo Nobel Chairman and Managing Director Rajiv Rajgopal said in a post-earnings call.

Earlier in the day, the 'Dulux' paintmaker reported a 5% fall in consolidated third-quarter net profit to 1.09 billion rupees ($12.47 million) as its 2% increase in its revenue was outweighed by a 2.3% rise in expenses.

Paintmakers saw weak demand from retail consumers who are choosing cheaper brands in the face of high inflation, analysts say and demand forecasts by paint companies have been mixed so far.

While market leader Asian Paints ASPN.NS missed earnings estimates and issued a grim demand outlook, Kansai Nerolac KANE.NS said it also expects the lower income tax rates to increase demand.

Akzo Nobel India's larger peers, Grasim Industries GRAS.NS and Berger Paints BRGR.NS, are due to report their results next week.

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

(([email protected]; Twitter: @MukherjeeHritam;))

Feb 6 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS LTD - PARTNERS WITH ASIAN PAINTS FOR TRANSPORTATION SOLUTIONS

Source text: ID:nNSE1GJ75b

Further company coverage: MALO.NS

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