BASF India gains on hike in open offer price

BASF India rose 3.29% to Rs 285.75 on BSE at 10:59 IST after its founder BASF SE revised the price for the ongoing open offer to Rs 300 a share from the earlier price of Rs 274.

The stock hit a high of Rs 297.50 and a low of Rs 285 so far during the day. The stock had a 52-week high of Rs 344 on 4 January 2008 and the stock hit a 52-week low of Rs 164 on 24 March 2008.

The company’s current equity is Rs 28.19 crore. Face value per share is Rs 10.

The current market price of Rs 285.75 discounts its Q4 March 2008 annualised EPS of Rs 6.26, by a

PE multiple of 45.64.

BASF SE has made an offer to buy up to 62.9 crore shares, or 22.3% of the equity capital of the Indian unit. The offer opened on 9 July 2008 and will close on 28 July 2008. The parent currently holds 52.69% in BASF India.

BASF India's net profit rose 20.2% to Rs 4.41 crore on 20.3% rise in sales to Rs 193.36 crore in Q4 March 2008 over Q4 March 2007.

BASF India's principal activity is to manufacture expandable polystyrene (used as packing or insulation), leather auxiliaries, finishing agents, pesticides and tanning agents.