BASF India shares surge 20% this week; Here’s why

BASF India shares witnessed a 20% rise this week. The share has delivered positive returns every month this year, barring January. BASF India’s market capitalisation is at Rs 35,494.44 crore.

On September 27, the firm’s German parent said that it would explore strategic options for increasing value in its global coatings business. BASF SE, the global chemical giant, has unveiled a new corporate strategy focused on restructuring its portfolio and improving capital allocation.

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The parent company said that its coatings business, which is now part of the Surface Technologies division, will be moved to BASF India Coatings, a wholly-owned subsidiary of BASF India, by the end of 2024 for ‘better business focus’.

On Friday, BASF India shares opened at ₹8,119, reaching a day high of ₹8,245 and a low of ₹7,900, reflecting market volatility and investor sentiment.

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