BASF India has rallied 15% to Rs 644 on reporting 36% year-on-year (yoy) jump in net profit at Rs 72 crore for the quarter ended June 2012, on the back of strong growth in sales. Net sales grew 27% at Rs 1,289 crore on y-o-y basis.
On a sequential basis, net profit has surged almost nine-fold from Rs 7.98 crore in March quarter.
The company is a diversified manufacturer of chemicals and specialty chemicals have seen operating margins improve to 9.95% from 8.95% during the recently concluded quarter.
The stock opened at Rs 568 and hit a high of Rs 648 on the NSE. The trading volumes on the counter jumped multiple-fold, with a combined 879,675 shares changing hands so far, against an average sub 5,000 shares that were traded daily in past ten trading days.
