BASF India's shares rise on plans to boost coatings business

Year-to-date, BASF India has skyrocketed by 128 percent, far outpacing the Nifty 50 index, which rose 20 percent during the same period.

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Shares of BASF India surged nearly 7 percent after the company announced on September 26 that it would explore strategic options for value creation in its coatings business.

At 12.50 PM, BASF India's stock was trading 2.3 percent higher at Rs 7,014. The stock has delivered consistent positive returns every month since February, with its biggest gain in July, when it soared over 22 percent. Year-to-date, BASF India has skyrocketed by 128 percent, far outpacing the Nifty 50 index, which rose 20 percent during the same period.

BASF SE, the German-based global chemical giant announced a new corporate strategy aimed at reshaping its portfolio and enhancing capital allocation and performance culture. The strategy, named "Winning Ways," revolves around four strategic levers: Focus, Accelerate, Transform, and Win.

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As part of the "Focus" initiative, BASF is re-evaluating its approach to managing its global business portfolio, with a key focus on its Coatings division. In India, this coating business is currently part of BASF India's Surface Technologies segment. BASF plans to transfer this business to BASF India Coatings Pvt Ltd, a wholly-owned subsidiary, by the end of 2024.

In addition to the Coatings business, BASF is also advancing its Agricultural Solutions division under its Differentiated Steering approach. In December 2023, BASF India informed stock exchanges of plans to empower and simplify the global Agricultural Solutions business. BASF SE is targeting the completion of legal and Enterprise Resource Planning (ERP) separation for the Agricultural Solutions business globally by 2027, paving the way for a potential Initial Public Offering (IPO) in the mid-term, with the option to list a minority share.

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