BASF India corrects on profit booking

BASF India fell 1.65% to Rs 1,240 at 13:15 IST on BSE on profit booking after the stock jumped 52.36% in the preceding nine trading sessions to Rs 1,260.75 on 22 August 2014, from a recent low of Rs 827.50 on 8 August 2014.

Meanwhile, the BSE Sensex was up 189.77 points, or 0.72%, to 26,609.32.

On BSE, so far 62,000 shares were traded in the counter, compared with an average volume of 13,408 shares in the past one quarter.

The stock hit a high of Rs 1,268.15 and a low of Rs 1,164.60 so far during the day. The stock hit a record high of Rs 1,293 on 22 August 2014. The stock hit a 52-week low of Rs 498 on 4 September 2013.

The stock had outperformed the market over the past one month till 22 August 2014, rising 45.21% compared with 1.51% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 71.96% as against Sensex's 8.39% rise.

The mid-cap company has an equity capital of Rs 43.29 crore. Face value per share is Rs 10.

Net profit of BASF India declined 40.16% to Rs 51.98 crore on 6.56% rise in net sales to Rs 1445.84 crore in Q1 June 2014 over Q1 June 2013.

BASF India is a diversified manufacturer of chemicals and specialty chemicals that are used in a number of industries including textiles, paper, construction and paints.

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