Paint stock drops 15% as Imperial Chemical plans stake sale
after close1 source ↓written by the desknot a recommendation
- plans to offload
- 9% stake
- worth
- ₹1,290.6 cr
- intraday low
- ₹3,080
- from the previous
- 15%
- previous close
- ₹3,623.95
Imperial Chemical Industries plans to offload 9% stake in Akzo Nobel India worth ₹1,290.6 cr. Following the announcement, the stock hit an intraday low of ₹3,080, down 15% from the previous close of ₹3,623.95. The transaction may occur at a discount to market price, raising investor concerns.
This sell-off could pressure the stock further, impacting market sentiment in the consumer durables sector.
Not investment advice. For informational purposes only.