Stable performance in both the key segments of decorative and industrial paints over many quarters, renewed aggression under a new management, favourable macro environment, reduction in GST and raw material price inflation would be the highlights of the performance for Akzo in near term. For Akzo, we estimate 11% volume CAGR over FY18 FY20E with stable margins and ROE of ~23% and ROCE of ~21.9% for FY20E. Maintain BUY with...