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.
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