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    Buy BASF India, target price Rs 3130: Axis Securities

    Synopsis

    BASF India Ltd., incorporated in the year 1943, is a Mid Cap company (having a market cap of Rs 12420.38 Crore) operating in Chemicals sector.

    Buy-Sell---ThinkStockThinkStock Photos
    Promoters held 73.33 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.71 per cent, DIIs 6.45 per cent.
    Axis Securities has buy call on BASF India with a target price of Rs 3130. The current market price of BASF India Ltd. is Rs 2866.2. Time period given by analyst is Intra Day 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 12420.38 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-2022.


    Financials
    For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 3891.08 Crore, up 14.43 % from last quarter Total Income of Rs 3400.55 Crore and up 29.00 % from last year same quarter Total Income of Rs 3016.29 Crore. Company reported net profit after tax of Rs 196.75 Crore in latest quarter.

    Investment Rationale
    “Multiple Resistance” breakout at 2800 along with huge volumes and sustaining above multiple SMAs.

    Promoter/FII Holdings
    Promoters held 73.33 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.71 per cent, DIIs 6.45 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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