Goldman Sachs purchased close to 3.36 lakh shares in the company via its affiliate Goldman Sachs Funds-Goldman Sachs India Equity Portfolio at a price of Rs 3,150 apiece which was at a 13% discount over Tuesday’s closing price of Rs 3,624 per share.
The stock plunged 14% today to settle at Rs 3,130 on the NSE.
Imperial Chemical Industries held 45.46% stake representing over 2 crore equity shares in the company as on September 30, 2025.
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The promoter stake sale with the company’s share price eroding over 11%.
The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 3,374.9 and Rs 3,418.4, respectively, according to Trendlyne data.Akzo Nobel reported a sharp rise in its quarterly net profit, with Profit After Tax (PAT) including exceptional items for Q2FY2025-26 standing at Rs 1,682.7 crore, a substantial 2119.8% increase from Rs 75.8 crore in the year-ago period.
The company’s revenue from operations for the quarter, excluding its divested Powder Coatings and IRC businesses, came in at Rs 834.9 crore, registering a 1.5% decline from Rs 847.7 crore in the corresponding quarter last year.
In terms of operating performance, Earnings Before Interest and Tax (EBIT) for Q2FY26 was reported at Rs 92.3 crore, down 2.4% from Rs 94.5 crore recorded in Q2FY25.
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