BASF India is trading at a lifetime high, soaring 10% to Rs 610, ahead of the board meeting to decide on the scheme of amalgamation.

“The board of directors of the company will meet today to consider the scheme of amalgamation of BASF Coatings (India) Pvt. Ltd., BASF Construction Chemicals (India) Pvt. Ltd. and BASF Polyurethanes India Ltd. with BASF India Ltd., subject to requisite approvals as may be required,&" the company said in its filing.

Meanwhile, the company engaged in specialty chemicals business, hopes to do better in Q2 FY11 (July-September). After good monsoon in the month of July and August, the farmers will be ready to pay premium for the fungicides and herbicide products. The company expects normal capex of around Rs 30 crore during the year,&" said Prasad Chandran, CMD of the company in its AGM held on August 12.

The stock of BASF opened at Rs 570 and hit a high of Rs 632 on the BSE. The trading volumes on the counter jumped over twenty-two fold, with 672,000 shares changing hands this morning as against an average 30,000 shares traded daily in the past two weeks.