BASF Rs 5600
BASF was discussed on 9th October 2024 at a price of Rs 8500 as a potentially decent performer if certain positive triggers played out. Post the Q2FY25 results on 12 Oct 2024, company did a conference call with investors on 21 November 2024 from which the following data point stands out along with our concerns regarding the same (in italics): –
BASF has given 800 Cr inter-corporate deposit (ICD) to group companies at 7.5% rate of interest. Management shared that these funds are not required at present but would be available to BASF whenever required on account of need for higher working capital or capex.
