BASF India is currently trading at Rs 655.00, up by 1.35 points or 0.21% from its previous closing of Rs 653.65 on the BSE.
The scrip opened at Rs 658.00 and has touched a high and low of Rs 664.00 and Rs 653.75 respectively. So far 6460 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 717.00 on 21-Sep-2011 and a 52 week low of Rs 427.05 on 22-Dec-2011.
Last one week high and low of the scrip stood at Rs 675.00 and Rs 649.20 respectively. The current market cap of the company is Rs 2835 crore.
The promoters holding in the company stood at 73.33% while Institutions and Non-Institutions held 7.26% and 19.41% respectively.
BASF India has received an approval for the proposal to shut down the EPS business including the company’s Styropor production at Thane as part of the BASF’s Global Strategy, subject to the requisite approval(s), as may be necessary. The board at its meeting held on September 18, 2012 has approved for the same. Besides, there is no impact of a material nature on account of shut down of the EPS business and the same will not affect the company’s overall growth strategy in India.
The EPS business in India is under continuous pressure due to strong competition. This coupled with high overcapacities and low margins, have made the continuance of the EPS operations uneconomical. Hence, considering that there is no potential to improve the overall performance of the EPS business in the long run the board took the above said decision.
Expandable Polystyrene (EPS), forming part of the plastics division of the company is sold under the brand name Styropor in India. The turnover of the EPS business of the company as of March 31, 2012 was Rs 207 crore.
BASF India is a leading player in chemical sector and manufactures and markets a wide range of products such as expandable polystyrene, tanning agents, leather chemicals and auxiliaries including specialized metal complex dyes etc. in primary forms and crop protection chemicals.
| Company Name | CMP |
|---|---|
| UPL | 509.65 |
| BASF India | 5642.05 |
| PI Industries | 3800.30 |
| Bayer CropScience | 5837.55 |
| Sumitomo Chemical India | 513.95 |
| View more.. | |
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