BASF India share price soared almost 9 per cent in intraday trade on BSE 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 the level of ₹5,944.30 on the BSE. Around 11:445 AM, the stock traded 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 had approval for the demerger of the company’s agricultural solutions business into a separate 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.
More to come…
