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AkzoNobel India gains on inaugurating a first-of-its-kind Specialty Coatings facility in Noida

29 Dec 2016 Evaluate

Akzo Nobel India is currently trading at Rs. 1420.00, up by 25.95 points or 1.86% from its previous closing of Rs. 1394.05 on the BSE.

The scrip opened at Rs. 1375.00 and has touched a high and low of Rs. 1426.05 and Rs. 1375.00 respectively. So far 1413 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1740.00 on 31-Aug-2016 and a 52 week low of Rs. 1204.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1400.00 and Rs. 1355.00 respectively. The current market cap of the company is Rs. 6653.29 crore.

The promoters holding in the company stood at 72.96%, while Institutions and Non-Institutions held 10.40% and 16.64% respectively.

AkzoNobel India, a leading global paints and coatings company, has inaugurated the first-of-its-kind Specialty Coatings production facility and colour laboratory in Noida, Uttar Pradesh, a satellite town 25 km from New Delhi, to service its customers in the consumer electronics, automobile and cosmetic industries.

The new site will manufacture 600 kilo liters of coatings annually, thus catering to the localisation drive undertaken by many large companies. The site will supply AkzoNobel’s coating systems faster to manufacturing companies in the country. Already commissioned, the facility is in its first phase; the second phase is likely to be completed by the end of 2016, with scope for further expansion.

AkzoNobel India (previously known as ICI India) is engaged in manufacturing and marketing of paints, speciality chemicals and adhesives.

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