Akzo Nobel India shares hit all-time high, surge 22% in 2 days amid buzz of Asian Paints' potential asset acquisition

About 2,580 shares rose, 1,201 fell and 93 were unchanged.

Akzo Nobel India shares surged to a record high on October 9, driven by a buzz surrounding a potential acquisition of the company’s India assets by Asian Paints.

Speaking to CNBC-TV18, on the sidelines of the Jury Round of the 20th Edition of the CNBC-TV18 India Business Leader Awards, Asian Paints CEO Amit Syngle spoke about potential acquisition of Akzo Nobel's India assets which led to the sharp uptick in the price movement of the stock.

“I think it’s too early to say in terms of what model they are looking at but definitely, I think there are certain parts of the business which are very, very interesting in terms of what is there," he said.

In the last two trading sessions, the stock has jumped nearly 22 percent. In Wednesday's trade, the stock jumped 18.61 percent to hit the fresh all-time high of Rs 4,649 per share on the NSE. On Tuesday, the scrip jumped 3.12 percent.

A total of 1.55 lakh shares changed hands today of Akzo Nobel India generating a total turnover of Rs 67.91 crore. The large cap company has a market cap of Rs 19,536.79 crore, as per NSE website.

The stock settled at Rs 4,275 apiece on the NSE, up 9.07 percent. In 2024 so far, the stock has jumped 63.96 percent, outpacing the benchmark Sensex which rose 12.72 percent, according to BSE data. In the last three years, it went higher by 90.17 percent.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.