Goldman Sachs buys Akzo Nobel India shares worth Rs 106 crore; promoter sells Rs 1,296 crore stake.
Summary
This article details a specific stock market transaction involving Akzo Nobel India shares, where Goldman Sachs bought a stake while promoter Imperial Chemical Industries sold a larger one. This is a routine corporate financial event and does not represent a significant policy change, economic trend, or constitutional matter. Therefore, it holds very low relevance for competitive exam preparation, which typically focuses on broader economic indicators, government policies, and major corporate actions affecting the overall economy, rather than individual stock movements.
Key Points
- 1Goldman Sachs purchased Akzo Nobel India shares worth ₹106 crore.
- 2Goldman Sachs acquired approximately 3.36 lakh shares of Akzo Nobel India.
- 3Imperial Chemical Industries (promoter) sold Akzo Nobel India shares worth ₹1,296 crore.
- 4The bulk deal occurred in Akzo Nobel India shares.
- 5The stock price of Akzo Nobel India declined over 11% following the promoter selling.
Full Article
Akzo Nobel India shares: Goldman Sachs bought shares worth ₹106 crore through a bulk deal, while promoter Imperial Chemical Industries sold a much larger stake worth ₹1,296 crore. The heavy promoter selling dragged the stock down over 11% in Wednesday’s session, despite Goldman’s purchase of about 3.36 lakh shares via its India equity portfolio.