Bengaluru, Dec. 17 -- On Tuesday, a small-cap consumer durables stock came into focus after news emerged that its promoter, Imperial Chemical Industries, plans to sell a 9 percent stake worth Rs 1,290.6 crore. With a market cap of Rs 14,382 Cr, Akzo Nobel India Ltd saw its stock hit an intraday low of Rs 3,080 which is 15 percent lower than the previous close of Rs 3,623.95.

What's the News? Promoter of the company, Imperial Chemical Industries is set to offload up to 9 percent stake in Akzo Nobel India through a large block deal worth approximately Rs 1,290 crore, putting pressure on the paints maker's share price. Reports indicate the transaction could be executed at a discount to market price with a floor price of Rs 3,150 per share, ...