BASF is having a fantastic run on the bourses today morning. The stock, which had closed on Friday at Rs.1617.15, opened higher at Rs.1680 and went on to hit a new 52-week high at Rs.1870. Volumes are up almost 4.5 times.
The stock is up as Plutus Wealth Management LLP acquired 3.15 lakh share on the NSE. They bought the stock at Rs.1584.46/share.
The company had a poor set of earnings for Q1FY21, posting a net loss of Rs.29 crore v/s profit of Rs.8 crore (YoY), impacted by the Covid. Capacity utilization at manufacturing plants at their lowest levels in April 2020. Revenue from operations were up 10% at Rs.1796 crore while total expenses rose 13%.