Tata Chemicals turns ex-date for spin off; opens at Rs 315 per share

In May last year, Tata Group had decided to demerge consumer business of Tata Chemicals and merge it with Tata Consumer Products (formerly Tata Global Beverages)

Shares of Tata Chemicals climbed 8 per cent to Rs 340, bouncing back 13 per cent from its day’s low of Rs 301 on the BSE on Wednesday. With effect from today, the stock started trading on the bourses without food business. It opened at Rs 315 on the BSE and the National Stock Exchange (NSE), against its Tuesday’s closing price of Rs 724.

Tata Chemicals has fixed Thursday, March 5, 2020 as the record date, for the purpose of determining the shareholders of the Company to whom equity shares of Tata Consumer Products (TCPL) shall be issued in