Akzo Nobel shares in focus as company to sell powder coatings business for Rs 2,073 crore
The transfer of businesses comes in the run-up to the sale of the Dutch paints maker’s India unit. That apart, the parent company Akzo Nobel NV will sell intellectual property rights of its decorative paints business in India, Bangladesh, Bhutan and Nepal to Akzo Nobel India for Rs 1,152 crore.
The execution of these transactions remains subject to approval of the shareholders of Akzo Nobel India and approval of the supervisory Board of Akzo Nobel NV.
ET had reported on Jan 25 that Berger Paints, Pidilite Industries, JSW Paints and Indigo Paints had submitted non-binding bids for the acquisition of Akzo Nobel India.
Also Read: Stocks in news: ONGC, NTPC, SBI Life, Manappuram Finance, Biocon
Akzo Nobel shares target price
As per Trendlyne data, the average target price of the stock is Rs 3,919, which shows an upside of 20% from the current market prices. The consensus recommendation from 2 analysts for the stock is a ‘Hold’.
Also Read: Pi Coin’s next move: Can it hit $100 and beyond?
Akzo Nobel technical indicators
Technically, the stock’s relative strength index (RSI) is at 33. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -86.8, which is below its signal and center line, this is a strong bearish indicator.
The stock is trading below its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).
Akzo Nobel stock performance
On Monday, Akzo Nobel shares closed at Rs 3,267, up 0.5% on the BSE, while the benchmark Sensex declined 1.14%. The stock has declined 10% in the past three months but gained 48% in the last two years. The company’s market capitalization stands at Rs 14,879 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
