Shares of Asian Paints fell by 0.38% to Rs 2,489.40 apiece after offloading stake in Akzo Nobel.
Asian Paints traded lower following the transaction which constituted 4.42% of the company's equity.
The offloaded stake in Akzo Nobel was valued at Rs 734 crore as part of the JSW Paints deal.
The stock has fallen 16.80% in the last 12 months and has mixed analyst recommendations, with an average consensus price target indicating a downside of 6.1%.