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Paints and coatings maker Akzo Nobel India on Monday reported 35.77 per cent decline in standalone net profit at Rs 41.27 crore for the April-June quarter impacted by slow sales growth and higher input cost.
Paints major Akzo Nobel India’s parent PPG Industries Inc has raised their bid for Akzo Nobel NV by around 8 per cent a share. The company has submitted a revised proposal for the proposed merger plan, which is now valued at around €26.9 billion.
There are 88 companies that can pay about ₹27,600 crore in dividends, proxy advisor IiAS has found, based on its study of the FY16 financials of BSE 500 companies. This is higher than the amount of ₹21,300 crore IiAS identified in its 2016 study (based on FY15 financials). “We believe SEBI’s requirement of an articulated dividend policy will force companies to think more deeply about dividend payouts,” the advisory said.
As many as 88 listed companies can pay dividends worth Rs 27,600 crore but many continue to hold cash stockpile, according to proxy advisory firm IiAS.
Akzo Nobel India rose 1% to Rs 1,391.05 at 14:09 IST on BSE after the company said it inaugurated a specialty coatings production facility and colour laboratory in Noida, Uttar Pradesh.
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Akzo Nobel India fell 1.45% to Rs 1,669 at 12:55 IST on BSE after net rose 18.46% to Rs 41.59 crore on 7.52% rise in net sales to Rs 670.69 crore in Q2 September 2016 over Q2 September 2015.