Akzo Nobel India, a global leader in coatings, has announced an interim dividend of ₹70 per share for the financial year 2024-25. The record date for this dividend is set for November 15, 2024. This dividend will be paid within 30 days of the declaration, subject to tax deduction at source (TDS) as per the Income Tax Act, 1961.
For the second quarter of FY25, Akzo Nobel India reported a 3.93% increase in its net consolidated profit, reaching ₹97.90 crore, compared to ₹94.20 crore in Q2 FY24. The company’s total consolidated income for the quarter stood at ₹991.40 crore, reflecting a 2.71% growth from ₹965.20 crore in the same period last year.
In terms of stock performance, Akzo Nobel India’s share price has been exhibiting strong technical momentum. The stock recently hit a high of ₹4,674 before experiencing a slight retracement, finding support at ₹4,043 (20-day EMA). It is currently trading above its 50-day and 200-day EMAs, suggesting positive technical strength. A breakout above the resistance level of ₹4,333, supported by strong volumes, could lead to a potential rally towards a target of ₹4,700 in the short term. Traders and investors are advised to place stop losses near ₹3,838 (aligned with the 50-day EMA) to manage risk effectively.
For those considering fresh investments, buying at the current market price is seen as a viable option, with a target of ₹4,700 and a stop loss at ₹3,838.
Disclaimer: The information provided in this blog is for general informational purposes only and should not be considered financial advice. Please conduct your own research or consult with a qualified financial advisor before making any investment decisions. The author does not assume any responsibility for any losses or damages arising from the use of this information.
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