You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

BASF hits all time high; rises 10% in three days

Capital Market 

BASF India jumped 8.05% to Rs 2,756.20, extending its winning run to the third consecutive trading session.

Shares of BASF India rallied 10% in three trading sessions from its previous closing low of Rs 2,512.8 on 11 June 2021. The counter hit a record high of Rs 2,792.20 in intraday today. The stock has zoomed 159% from its 52-week low of Rs 1,075 posted on 17 June 2021.

In the past one month, the stock has jumped 11.4% compared with 7.6% rise in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 77.033. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 2309.84 and 2124.79 respectively. These levels will act as crucial support zones in near term.

BASF India is engaged in providing chemicals, plastics, performance products and crop protection products. On a standalone basis, BASF India's net profit jumped 24.74% to Rs 55.81 crore on 48% rise in revenue from operations to Rs 2,805.58 crore in Q4 March 2021 over Q4 March 2020.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, June 16 2021. 13:24 IST