 "BASF extends rally, gains 32% in 2 days; stock hits new record high post Q1")
BASF extends rally: Stocks of BASF extended its rally on Thursday, August 8, 2024 on the back of stellar numbers in the June quarter of financial year 2025 (Q1FY25). The stock rallied as much as 12.41 per cent to hit a fresh record high of 7,785.40 per share.
The stocks, on Wednesday, were locked in the 20-per cent upper circuit at Rs 6,925.70 while hitting a record high.
The company’s profit rose 36 per cent year-on-year (Y-o-Y) to Rs 22.1 crore in Q1FY25, from Rs 16.1 crore in the same quarter last year (Q1FY24).
Over the medium term, stabilisation in key crude oil-linked input prices, which form a major part of the raw material cost, will help maintain margin at current levels, according to analysts.
BASF India Limited, a subsidiary of BASF SE and headquartered in Navi Mumbai, India, is a prominent chemical solutions provider.
Established in 1943, the company operates across several sectors including agricultural solutions, offering crop protection products and seed treatments; materials, providing performance materials and monomers; industrial solutions, supplying chemicals for diverse industries such as paints and coatings; surface technologies, delivering catalysts and coatings; and nutrition & care, offering solutions for personal and home care, as well as human and animal nutrition. Additionally, BASF India’s chemicals segment produces a wide range of petrochemicals and intermediate chemicals, with a strong focus on exports.
The market capitalisation of BASF India is Rs 33,113.51 crore, according to Bombay Stock Exchange (BSE). The company falls unde the BSE500 category.
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The 52-week high of BASF India stock is Rs 589.65 per share while its 52-week low is Rs 188.20 per share.
At 10:41 AM, BASF India shares were trading 8.48 per cent higher at 7,513.30 per share. In comparison, BSE Sensex was trading 0.36 per cent at 79,185.17 levels.