Tata Chemicals gains after strong Q1 results

Tata Chemicals rose 1.95% to Rs 370.45 at 14:42 IST on BSE after consolidated net profit jumped 133.34% to Rs 175.50 crore on 17.41% growth in total income from operations to Rs 3846.64 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 5 August 2014.

Meanwhile, the S&P BSE Sensex was up 192.86 points or 0.75% at 25,916.02.

On BSE, so far 5.13 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter.

The stock hit a high of Rs 372.30 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 351.25 so far during the day. The stock had hit a 52-week low of Rs 234.50 on 4 September 2013.

The stock had outperformed the market over the past one month till 4 August 2014, advancing 3.44% compared with the Sensex's 0.92% fall. The scrip had also outperformed the market in past one quarter, jumping 28.19% as against Sensex's 14.82% rise.

The mid-cap company has equity capital of Rs 254.76 crore. Face value per share is Rs 10.

Tata Chemicals is the pioneer and market leader in India's branded iodised salt segment. The company is also the world's second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. It is also a leading manufacturer of urea and phosphatic fertilisers and, through its subsidiary, Rallis, has a strong position in the crop protection business.

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