On sequential basis, net profit has surged almost nine-fold at Rs 72 crore in June quarter from Rs 7.98 crore in March quarter.
BASF India has rallied 15% to Rs 644 on reporting 36% year-on-year (yoy) jump in net profit at Rs 72 crore for the quarter ended June 2012, on the back of strong growth in sales. Net sales grew 27% at Rs 1,289 crore on y-o-y basis.
On a sequential basis, net profit has surged almost nine-fold from Rs 7.98 crore in March quarter.
The company is a diversified manufacturer of chemicals and specialty chemicals have seen operating margins improve to 9.95% from 8.95% during the recently concluded quarter.
The stock opened at Rs 568 and hit a high of Rs 648 on the NSE. The trading volumes on the counter jumped multiple-fold, with a combined 879,675 shares changing hands so far, against an average sub 5,000 shares that were traded daily in past ten trading days.
Pursuant to this purchase, their total holding rose to 11.2% in the company, crossing a threshold limit of 10% to attract the provisions of Sebi's ...