Akzo Nobel India rose 5.02% to Rs 1,892 at 9:24 IST on BSE after the company said that its board will meet on 6 April 2018, to consider a proposal to buyback equity shares.
The announcement was made after market hours yesterday, 3 April 2018.
Meanwhile, the S&P BSE Sensex was up 40.86 points, or 0.12% to 33,411.49.
On the BSE, 1,622 shares were traded in the counter so far compared with average daily volumes of 490 shares in the past two weeks. The stock had hit a high of Rs 1,911.10 and a low of Rs 1,875 so far during the day. The stock hit a record high of Rs 2,095 on 27 April 2017. The stock hit a 52-week low of Rs 1,688 on 6 February 2018.
Net profit of Akzo Nobel India rose 20.50% to Rs 82.63 crore on 5.77% rise in net sales to Rs 711.99 crore in Q3 December 2017 over Q3 December 2016.
Akzo Nobel India manufactures and markets a wide range of coatings and paints.
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