Tata Chemicals gains after Tata Sons hikes stake
Tata Chemicals rose 1.79% to Rs 297.75 after Tata Sons purchased 0.87% stake of the chemical maker via bulk deal on the NSE.
On Wednesday (23 September), Tata Sons bought 22.10 lakh equity shares (0.87% equity) of Tata Chemicals at Rs 287.58 per share via bulk deal on the NSE.
As of 30 June 2020, Tata Sons held 28.51% stake in the company.
On a consolidated basis, the chemicals maker's net profit dropped 67.2% to Rs 74.15 crore on 9.13% decline in net sales to Rs 2,348.16 crore in Q1 June 2020 over Q1 June 2019.
Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products, consumer and specialty products.
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First Published: Sep 24 2020 | 9:18 AM IST