BASF India jumped 5.57% to Rs 1,707.30 after Plutus Wealth Management acquired 0.72% stake in the company via bulk deal last week.
On Friday, 21 August 2020, Plutus Wealth Management bought 3.15 lakh equity shares (0.72% stake) of BASF India at Rs 1,584.46 per share via bulk deals on National Stock Exchange (NSE).
On the technical front, the stock's RSI (relative strength index) stood at 81.997. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 1,287.21 and its 200-day moving average (DMA) placed at 1,083.55.
BASF India reported a net loss of Rs 29.15 crore in Q1 June 2020 as against net profit of Rs 8.20 crore in the corresponding period last year. Net sales rose 9.7% to Rs 1,765.98 crore in Q1 June 2020 from Rs 1,609.46 crore Q1 June 2019.
BASF India is engaged in providing chemicals, plastics, performance products and crop protection products.
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