Interim Dividend of Rs. 70 For FY25: 15th November Record Date; Buy At The Current Levels?

With dominant market positions and well-known brands in several nations, AkzoNobel is the largest coatings manufacturer in the world. Aerospace Coatings, Automotive OEM Coatings, Consumer Electronics Coatings, Vehicle Refinishes, and Sign Finishes are among the cutting-edge coating solutions that the firm provides to a range of sectors. The company has been providing its clients across the world with cutting-edge paints and coatings since 1792.

Akzo Nobel India Dividend

"Pursuant to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Record date has been fixed as Friday, 15th November 2024 for the purpose of ascertaining the entitlement of Members to the Interim Dividend of Rs. 70/- per share (on the face value of Rs. 10/- each) on the equity shares of the Company for the financial year 2024-25 declared by the Board of Directors of the Company in its meeting held on 7th November 2024. The above said declared interim dividend, subject to tax deduction at source (TDS) as per the provisions of Income Tax Act, 1961, shall be paid and the dividend will be credited within 30 days from the date of declaration of the aforesaid Interim Dividend as provided in the Companies Act, 2013," said the company in a stock exchange filing.

Akzo Nobel India Financials

The net consolidated profit of Akzo Nobel India climbed by 3.93 per cent in the quarter that ended on September 30, 2024. According to a BSE filing, the company's profit after tax for the second quarter of FY25 was Rs 97.90 crore, compared to Rs 94.20 crore for the same quarter the year before. In Q2 FY25, the company's net consolidated total income was Rs 991.40 crore, up 2.71 per cent from Rs 965.20 crore in the same period the previous year.

Akzo Nobel India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The daily chart of Akzo Nobel India shows that the stock recently made a strong upward move, hitting a high near Rs 4,674 before experiencing a retracement. This retracement came just above its 20-day EMA at Rs 4,043.92, which is currently acting as a near-term support. The stock's positive momentum is further confirmed by its positioning above the medium-term (50 Day), and long-term (200 Day) EMA levels, reinforcing its technical resilience. A significant breakthrough above the resistance at 4333, supported by robust volumes, underscores the stock's strength which also marks its 52 week high."

"A breakout above this crucial resistance could set the stage for a rally towards the target of Rs 4700 in the short term. Traders and investors who entered at lower levels are advised to safeguard their positions by trailing stop losses near 3838, aiming for the target of 4700 and beyond. The momentum indicator, Relative Strength Index (RSI), is currently at 53.8 levels, indicating positive momentum in the stock. For those considering fresh investments, purchasing at the current market price (CMP) is a viable option, targeting 4700, with a stringent stop loss set at 3838 levels which aligns with the 50-day EMA to manage risk effectively," the analyst further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.