Net profit of BASF India declined 75.27% to Rs 2.32 crore in the quarter ended September 2019 as against Rs 9.38 crore during the previous quarter ended September 2018. Sales rose 23.92% to Rs 2068.74 crore in the quarter ended September 2019 as against Rs 1669.37 crore during the previous quarter ended September 2018.

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Jamna Auto Industries Ltd, Fortis Healthcare Ltd, AAVAS Financiers Ltd, Somany Ceramics Ltd are among the other stocks to see a surge in volumes on BSE today, 07 November 2019.

BASF India Ltd saw volume of 40860 shares by 10:48 IST on BSE, a 26.53 fold spurt over two-week average daily volume of 1540 shares. The stock increased 0.58% to Rs.1,012.00. Volumes stood at 2050 shares in the last session.

Jamna Auto Industries Ltd notched up volume of 15.17 lakh shares by 10:48 IST on BSE, a 14.33 fold spurt over two-week average daily volume of 1.06 lakh shares. The stock slipped 2.53% to Rs.44.25. Volumes stood at 1.03 lakh shares in the last session.

Fortis Healthcare Ltd recorded volume of 39.41 lakh shares by 10:48 IST on BSE, a 7.74 times surge over two-week average daily volume of 5.09 lakh shares. The stock gained 5.15% to Rs.154.25. Volumes stood at 1.21 lakh shares in the last session.

AAVAS Financiers Ltd registered volume of 43220 shares by 10:48 IST on BSE, a 6.83 fold spurt over two-week average daily volume of 6330 shares. The stock rose 3.62% to Rs.1,543.75. Volumes stood at 37148 shares in the last session.

Somany Ceramics Ltd witnessed volume of 13850 shares by 10:48 IST on BSE, a 6.15 times surge over two-week average daily volume of 2251 shares. The stock increased 5.97% to Rs.190.00. Volumes stood at 2446 shares in the last session.

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BASF India will hold a meeting of the Board of Directors of the Company on 7 November 2019.

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BASF India has received demand notices from the Commercial Tax Department, Karnataka aggregating toRs.324.49 crore (including interest & penalty) for the period 2006-2010, 2010-11 (2 months), 2014-15, by treatingthe stock transfers of its Mangalore Plant as interstate sales to dealers. However, recovery of the demandpertaining to the period 2010-11 (2 months) and 2014-15 aggregating to Rs. 98.81 crore has been stalled by theHon'ble Karnataka Appellate Tribunal. The Company has filed an appeal along with an application for grant ofstay on recovery of demand pertaining to the period 2006-2010.

The Company has also filed a Writ Petition before the Hon'ble Karnataka High Court and has prayed for grant ofstay on the Demand Notices.

The Company has also received Notices aggregating to Rs. 288.43 crore (including interest & penalty) for theperiod 2010-11 (10 months) & 2011-14 from Commercial Tax Department, Karnataka. The Company is in theprocess of filing its detailed reply / submissions in response to these Notices.

The Company, based on the legal assessment, does not consider these stock transfers as interstate sales andis taking all the necessary legal steps to defend the matter.

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