Chemical stocks rally; BASF India up 16%,Tata Chemicals hit new high

Goa Carbon, Deepak Nitrite, Oriental Carbon, Phillips Carbon Black, NOCIL and Ultramarine Pigments hit their respective record highs on the BSE.

Shares of chemical firms are on a roll with BASF India, India Glycols, Mysore Petrochemicals and Grauer & Weil (India) rallying up to 16% on the BSE in intra-day trade.

Gujarat Alkalies & Chemicals, Goa Carbon, Deepak Nitrite, NOCIL, Oriental Carbon & Chemicals, Phillips Carbon Black, Tata Chemicals and Ultramarine Pigments hit their respective record highs on the BSE.

BASF India surged 16% to Rs 1,702 in intra-day trade after analyst at Emkay Share & Stock Brokers initiated coverage of the stock with a 'buy' recommendation.

The company, which is a part of BASF SE, the largest