Akzo Nobel India Stock Plummets 14% After ₹1,640 Crore Block Deal

• Akzo Nobel India Ltd. shares crashed by up to 14% on Wednesday following a significant block deal.
• A block deal worth ₹1,640 crore involved the trading of 51.9 lakh shares, representing 11.4% equity, at ₹3,159 per share.
• Promoter entity Imperial Chemical Industries was reportedly planning to sell a 9% stake in the company.
• The company's Q2 consolidated net profit surged to ₹1,682 crore due to a one-time exceptional gain of ₹1,874 crore.
• Despite the profit surge, earnings decreased by 15% to ₹835 crore, and the stock saw a 14.2% decline, trading at ₹3,108.9.

Why It Matters: Akzo Nobel India stock plunged 14% after a massive ₹1,640 crore block deal, despite Q2 profit surge.