Asian Paints shares will be in focus on Monday after Birla Opus Paints, a unit of the Birla Group, filed a complaint with the Competition Commission of India (CCI), accusing the company of abuse of dominance, according to sources cited by CNBC-TV18. Grasim Industries, which owns Birla Opus Paints, reportedly filed the complaint in November 2024, alleging that Asian Paints threatened dealers with reduced credait limits and withdrawal of contracts if they engaged with Grasim. The complaint also accuses Asian Paints of delaying supplies and restricting access to tinting machines as a pressure tactic. Asian Paints, India’s largest paint manufacturer, holds 53% of the country’s installed paint production capacity and has a vast distribution network of over 74,000 dealers across 1.6 lakh touchpoints. Sources said the CCI is expected to soon initiate a formal investigation into the allegations, with an order for a probe likely in the near future. According to Trendlyne, the average target price for Asian Paints is Rs 2,289, implying a potential upside of 2%. Of the 35 analysts covering the stock, the consensus rating is ‘Sell’. The stock has declined 23% over the past year and 30% over the last two years. Its current market capitalisation stands at Rs 2.15 lakh crore.
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