BASF India rose 1.4% to Rs 1,228.20 at 11:41 IST on BSE after the company said it has signed the business transfer agreement with Wurth India to transfer its import and distribution business of Glasurit, an automotive refinish paint brand in India.
The announcement was made during market hours today, 30 December 2014.
Meanwhile, the S&P BSE Sensex was almost unchanged at 27,395.41.
On BSE, so far 4,171 shares were traded in the counter as against average daily volume of 7,661 shares in the past one quarter.
The stock hit a high of Rs 1,264.90 and a low of Rs 1,220 so far during the day. The stock had hit a record high of Rs 1,388.05 on 30 September 2014. The stock hit a 52-week low of Rs 566 on 27 January 2014.
The stock had underperformed the market over the past one month till 29 December 2014, declining 4.63% compared with Sensex's 4.52% fall. The scrip had also underperformed the market in past one quarter, sliding 8.75% as against Sensex's 3% rise.
The mid-cap chemical manufacturing company has equity capital of Rs 43.29 crore. Face value per share is Rs 10.
BASF India said it has signed the business transfer agreement with Wurth India to transfer its import and distribution business of Glasurit, an automotive refinish paint brand in India, with effect from 1 February 2015.
BASF India reported a net loss of Rs 19.95 crore in Q2 September 2014 compared with net profit of Rs 33.37 crore in Q2 September 2013. Net sales rose 14.5% to Rs 1205.87 crore in Q2 September 2014 over Q2 September 2013.
BASF in India manufactures polymers, tanning agents, leather chemicals and auxiliaries, crop protection chemicals, textile chemicals, dispersions and specialty chemicals, performance plastics, automotive and coil coatings, construction chemicals, polystyrene and polyurethane systems. It also markets a wide range of intermediates, catalysts and other chemicals for life sciences, chemical and allied industries in the country.
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