Buy BASF India, target price Rs 3565: HDFC Securities

HDFC Securities has buy call on BASF India with a target price of Rs 3565. The current market price of BASF India Ltd. is Rs 3212.8. Time period given by analyst is 3 months when BASF India Ltd. price can reach defined target.

BASF India Ltd., incorporated in the year 1943, is a Mid Cap company (having a market cap of Rs 13856.17 Crore) operating in Chemicals sector.

BASF India Ltd. key Products/Revenue Segments include Chemicals, Sale of services and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 3408.61 Crore, up 13.01 % from last quarter Total Income of Rs 3016.29 Crore and up 42.12 % from last year same quarter Total Income of Rs 2398.41 Crore. Company reported net profit after tax of Rs 137.34 Crore in latest quarter.

Investment Rationale
The stock price is showing a sustainable higher highs and lows. Recently, it surpassed the immediate hurdle of weekly 10 and 20 period EMA at Rs 3000 levels. This is positive indication. The overall chart pattern of BASF indicates long trading opportunity.

Promoter/FII Holdings
Promoters held 73.33 per cent stake in the company as of 31-Dec-2021, while FIIs owned 1.88 per cent, DIIs 6.9 per cent.