BASF India hits record high after posting turnaround in Q2 results

BASF India jumped 7.34% to Rs 1,858.80 at 14:58 IST on BSE after the company announced net profit of Rs 172.91 crore in Q2 September 2017 compared with net loss of Rs 19.39 crore in Q2 September 2016.

The result was announced during market hours today, 14 November 2017.

Meanwhile, the S&P BSE Sensex was down 95.77 points, or 0.29% to 32,937.79. The S&P BSE Mid-Cap index was down 28.83 points, or 0.17% to 16,502.14, underperforming the Sensex.

More than usual volumes were traded on the counter. On the BSE, 32,237 shares were traded in the counter so far, compared with average daily volumes of 10,889 shares in the past one quarter. The stock had hit a high of Rs 1,968.25 in intraday trade, which is a record high for the stock. The stock had hit a low of Rs 1,735 so far during the day. The stock had hit a 52-week low of Rs 988.50 on 21 November 2016.

The stock had underperformed the market over the past one month till 13 November 2017, gaining 1.65% compared with 1.85% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 24.31% as against Sensex's 5.83% rise. The scrip had also outperformed the market in past one year, gaining 52.67% as against Sensex's 23.17% rise.

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

BASF India's total income rose 3.96% to Rs 1457.52 crore in Q2 September 2017 over Q2 September 2016.

Separately, the board of directors reappointed Dr Raman Ramachandran as the Chairman and Managing Director of the company for a period of one year from 1 April 2018 to 31 March 2019.

BASF India, the flagship company of BASF in India, with 73.33% of the shares held by BASF SE. BASF India is engaged in providing chemicals, plastics, performance products and crop protection products.

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