BASF India share price soars 9% on demerger move; check details

Stock Market Today: BASF India share price soared almost 9 per cent in intraday trade on Friday, December 20, a day after the company announced the demerger of its agricultural solutions business. 

BASF India share price opened at ₹5,780.05 against its previous close of ₹5,460.10 and vaulted as much as 8.9 per cent to ₹5,944.30 on the BSE. Around 11:45 AM, the stock was trading 5.67 per cent up at ₹5,769.55 apiece.

BASF India demerger news

In an exchange filing after market hours on Thursday, BASF India announced that its board of directors approved the demerger of the company’s agricultural solutions business into a separately listed legal entity.

"We wish to inform that the company's board of directors, at its meeting held today on December 19, 2024, has accorded its in-principle approval for the demerger of the company’s agricultural solutions business into a separate listed legal entity," said the company.

"The demerger will enable operational flexibility, leverage differentiated steering and create value. The company’s agricultural solutions business has generated sales of ₹20,064.6 million, representing 14.57 per cent of the total revenues of the company for the financial year ended March 31, 2024," the company further said.

According to the exchange filing, on December 5 last year, BASF India informed the stock exchanges regarding BASF SE’s differentiated steering approach for its global agricultural solutions business.

Further, on September 26 this year, the company informed that globally, BASF SE will complete the legal and enterprise resource planning (ERP) separation of the agricultural solution business by 2027. The company had also informed that it would assess the relevance and the implications of the new global corporate strategy of BASF SE for its agricultural solutions business in India.

BASF India share price trend

The stock has seen a solid gain of about 78 per cent year-to-date (YTD) till December 19 close.

It hit a 52-week high of ₹8,748.10 on October 7 this year and a 52-week low of ₹2,870 on January 18 this year.

The stock, however, has seen some profit booking since last month. In November, the stock declined 21 per cent, while in December so far, it has dropped 4 per cent.

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