/ BASF India Soars Nearly 5% Parent To Divest Leather Chemical Business ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 23 March 2017

BASF India’s stocks in Thursday’s trading session soared nearly 5% on an intraday basis, as the Company announced that its parent company has come to an agreement with Stahl to divest its leather and chemical business to Stahl Group.

BASF SE, Germany is the parent company of BASF India and the transaction is expected to close in the fourth quarter of 2017.

Leather and chemical products will be supplied by BASF India from its manufacturing facilities to Stahl Group under a mid to long-term agreement.

The stock witnessed huge spurt in volumes by more than 2.30 times. It hit an intraday high of Rs 1275; and an intraday low of Rs 1200.

BASF India Limited is engaged in providing chemicals, plastics, performance enhancing products and crop protection products. The company's segments include agricultural solutions, performance products, chemicals, functional materials & solutions among others.

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