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BASF India gains on setting up R&D centre for agrochemicals at Lonikand

29 May 2015

BASF India is currently trading at Rs. 1091.05, up by 22.70 points or 2.12% from its previous closing of Rs. 1068.35 on the BSE.

The scrip opened at Rs. 1069.00 and has touched a high and low of Rs. 1097.60 and Rs. 1069.00 respectively. So far 269 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1497.60 on 20-Jan-2015 and a 52 week low of Rs. 770.00 on 29-May-2014.

Last one week high and low of the scrip stood at Rs. 1121.00 and Rs. 1060.35 respectively. The current market cap of the company is Rs. 4725.49 crore.

The promoters holding in the company stood at 73.33% while Institutions and Non-Institutions held 6.77% and 19.89% respectively.

BASF India has set up a research and development (R&D) centre for agrochemicals at Lonikand in Pune, its first in the country, at an estimated investment of Rs 64 crore. The centre will focus on global agriculture research on herbicides, fungicides and insecticides and will also offer to tailor-made solutions to the farmers.

In addition to conducting research in areas of global agricultural interest, the R&D centre will also investigate scenarios that are unique to India. These include challenges such as India’s specific weeds and pests, as well as climate stresses, like drought, flood cycles and heat stress. This is BASF’s fifth R&D centre in the world after Germany, Spain, Brazil and Philippines.

BASF India is a leading player in chemical sector and manufactures and markets a wide range of products such as expandable polystyrene, tanning agents, leather chemicals and auxiliaries including specialized metal complex dyes etc. in primary forms and crop protection chemicals.

Related BASF India Ltd. Links:

BASF India Share Price

3472.95 -75.25 (-2.12%) Oct 21, 18:01
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SEBI Registered: Investment Adviser - INA000013323