SP Tulsian of sptulsian.com told CNBC-TV18, “I have been maintaining positive view on all the paint companies but if you put the pecking order probably Akzo Nobel comes at the bottom because whenever we have seen the kind of upsurge happening in the stock, it is not sustainable and you are right that the upsurge, which we have seen today is largely because of special dividend or the hefty dividend which the company has announced.”
He further added, “On quarter-on-quarter (QoQ) basis one may finding the results quite interesting but on year-on-year (YoY) basis I am not too happy with the numbers and more specially after seeing the numbers having posted by the other companies. So, may be the present level, now it is ruling at Rs 1,130 or maybe maximum Rs 1,140-1,145, I will advice investors to exit from the stock, they should not get lured by this dividend merely to receive the dividend because that will be the arithmetic adjustment, which will get reduced to that extent. Therefore, I do not think much upside; in fact the euphoria has taken this share to move, which is not likely to go in any case beyond Rs 1,150.”
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
