Tata Chemicals shed 0.91% to Rs 425 at 10:05 IST on BSE after the company said it temporarily suspended production of complex fertilisers including DAP at Haldia, West Bengal due to emerging market conditions.
The announcement was made after market hours on Friday, 17 June 2016.Meanwhile, the S&P BSE Sensex was up 117.44 points or 0.44% at 26,734.40.
On BSE, so far 12,197 shares were traded in the counter as against average daily volume of 54,683 shares in the past two weeks. The stock hit a high of Rs 425.85 and a low of Rs 420.60 so far during the day. The stock had hit a 52-week low of Rs 310.05 on 26 February 2016. The stock had hit a record high of Rs 525.70 on 23 July 2015. The stock had underperformed the market over the past one month till 17 June 2016, rising 2.94% compared with 3.31% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.91% as against Sensex's 7.9% rise.
The large-cap company has equity capital of Rs 254.76 crore. Face value per share is Rs 10.
Tata Chemicals said that the company has decided to supply Di-ammonium Phosphate (DAP) to its customers from inventory in hand and imports with effect from 19 June 2016, due to emerging market conditions. The company added that consequently production of complex fertilisers, including DAP, is being temporarily suspended at Haldia, West Bengal. Production of Single Super Phosphate (SSP) remains unaffected, it added. The company will notify as and when production of DAP resumes.
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Tata Chemicals reported consolidated net profit of Rs 242.24 crore in Q4 March 2016 compared with consolidated net loss of Rs 74.17 crore in Q4 March 2015. Net sales rose 8.7% to Rs 3976.27 crore in Q4 March 2016 over Q4 March 2015.
Tata Chemicals is a global company with interests in businesses that focus on living, industry and farm essentials.
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