Tata Global, Tata Chem hit 52-wk high on NCLT nod for scheme of arrangement

In May last year, Tata Group had decided to demerge consumer business of Tata Chemicals and merge it with Tata Global Beverages.

Shares of Tata Group companies -- Tata Global Beverages and Tata Chemicals -- hit their respective 52-week highs on the BSE on Monday after the National Company Law Tribunal (NCLT) approved the scheme of arrangement between the two companies.

Tata Global Beverages was trading higher for the fifth straight day, hitting a fresh 52-week high of Rs 351, up 3 per cent on the BSE. The stock has rallied 13 per cent in the past one week, as compared to a 3 per cent rise in the S&P BSE Sensex. Tata Chemicals too hit 52-week high of Rs 704,