JSW Paints, a subsidiary of the $23 billion JSW Group, has entered into a deal to acquire up to 74.76% stake in Akzo Nobel India. The agreement, valued at almost Rs. 9,000 crore, is subject to regulatory approvals and includes a mandatory open offer to ANIL's public shareholders. If finalized, the acquisition will give JSW Paints a stronger foothold in the Indian paints market, positioning it as a major player in the decorative and industrial coatings segments.
Indian paints industry has seen a rise in competition with new players like JSW Paints, Birla Opus, and others entering the market. In a move to strengthen their position in the market, JSW Paints has entered into a definitive agreement to acquire a majority stake in Akzo Nobel India, one of the leading paint companies in the country. This acquisition will give JSW Paints added leverage to compete against big players like Grasim and Asian Paints in the industry.
JSW Paints, a part of the $23 billion JSW Group, has acquired a 74.76% stake in Akzo Nobel India for ₹8,986 crore. This strategic move positions JSW Paints as a key player in the growing paints industry in India. The deal, subject to regulatory approvals, will help JSW Paints strengthen its decorative and industrial paints portfolio and work towards its aim of achieving a revenue ratio of 80:20 between the two segments by 2025.
In the ever-evolving business world, a strong mindset is crucial for success. Former Forbes Councils Member Chelsea Spencer Smith, MBA, CPC, explains how one's self-perceptions, upbringing, and societal norms all influence their mindset. She highlights the importance of understanding and focusing on mindset in order to become a respected business leader, and the significance of having a growth mindset rather than a fixed one. Through a unique mix of personal and professional experiences, Smith delves into the immense impact of mindset on achieving goals and finding satisfaction in both career and life.
The Indian Ministry of Civil Aviation has assured compliance with domestic laws and international obligations for the analysis of data from the black boxes recovered from the Air India flight that crashed in Ahmedabad. A multi-disciplinary team, including representatives from the National Transportation Safety Board (NTSB), is in charge of the investigation. The black boxes were recovered soon after the accident and kept under 24x7 surveillance and police protection before being brought to Delhi by Indian Air Force aircraft. The data extraction process began on June 24, highlighting the government's prompt and efficient response to the unfortunate incident.
Bata India plans to expand its successful Floatz brand with a new range and continue building on the success of its Power apparel line. In its annual report, the company stated its focus on extending the presence of its top six brands, including Bata Core, in order to drive same-store sales growth and overall retail expansion. With over 1,850 stores in its retail network and a growing distribution to over 1,500 towns, Bata India is taking strategic steps to maintain its growth and momentum in the market.
The Income Tax Department has been collecting and integrating an overwhelming amount of data from various sources, making it challenging for taxpayers to reconcile it with their income tax returns. Inaccuracies in data are becoming increasingly common, and now taxpayers are being held responsible for providing feedback to the reporting sources and sharing responses. This added step could have serious consequences for taxpayers, such as notices and further scrutiny. To avoid these issues, it is recommended to file a revised or updated return with correct information to avoid future discrepancies.
NASA has successfully launched its fourth all-private astronaut mission to the International Space Station (ISS), involving astronauts from India, Poland, and Hungary. Led by veteran NASA astronaut Peggy Whitson, the mission marks India's first astronaut mission to the ISS and is a result of collaboration between NASA and ISRO. With five joint science experiments and two STEM demonstrations, the mission highlights the value of international partnerships in advancing scientific research and education in space. This partnership also aligns with NASA's strategy of shifting towards commercial partnerships and focusing on future space missions.
A recent study found that many popular contact lens brands contain high levels of PFAS, or "forever chemicals", which have been linked to cancer and other health issues. This is concerning for contact lens wearers who may be unknowingly exposing themselves to these harmful substances. Notably, these chemicals are also found in other household items and can contribute to water pollution.
Bud Light faces backlash and boycotts after partnering with transgender TikTok influencer Dylan Mulvaney, with some Nashville residents expressing their anger and others saying the backlash is overblown. The beer brand's parent company, Anheuser-Busch, has lost $5 billion in value and some believe the controversy has given them unwarranted publicity. However, others argue that this is a sensitive issue and recommend honoring veterans and first responders instead of influencers.