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Akzo Nobel jumps on reporting 67% jump in Q2 net profit

26 Oct 2012 Evaluate

Akzo Nobel is currently trading at Rs. 958.00, up by 27.40 points or 2.94% from its previous closing of Rs. 930.60 on the BSE.

The scrip opened at Rs. 950.00 and has touched a high and low of Rs. 983.95 and Rs. 950.00 respectively. So far 4,891 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 983.95 on 26-Oct-2012 and a 52 week low of Rs. 693.25 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 983.95 and Rs. 925.05 respectively. The current market cap of the company is Rs. 4,473.00 crore.

The promoters holding in the company stood at 72.96% while Institutions and Non-Institutions held 12.71% and 14.33% respectively.

The company has registered growth of 67.27% in its net profit after tax at Rs 44.01 crore for the quarter ended September 30, 2012 as compared to Rs 26.31crore for the same quarter in the previous year. Total income from operation has increased by 72.24% at Rs 523.41 crore for quarter under review as compared to Rs 303.89 crore for the quarter ended September 30, 2011.

Akzo Nobel India (formerly ICI India) is engaged in manufacturing and marketing of paints, speciality chemicals, adhesives and starch. The company's origin goes way back in 1926 when Brunner Mond & Co, one of the four companies was combined to form ICI in UK. This company operated as a trading office in Calcutta to sell alkalis and dyes.

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