Page 3 - Tata Chemicals

Income Tax dept imposes Rs 103.63 crore penalty on Tata Chemicals

Income Tax Department has imposed a penalty of Rs 103.63 crore on Tata Chemicals for violation related to disallowance of interest. In a regulatory filing on Thursday, Tata Chemicals said it has received an order from National Faceless Assessment Centre, Income Tax Department, levying a penalty of Rs 103.63 crore under Section 270A of the Income Tax Act for disallowance of interest under section 36(1)(iii) of the Act. Based on the merits of the matter, prevailing law and the advice of the counsel, Tata Chemicals said it is planning to appeal against this order before the National Faceless Appeal Centre (appellate authorities). The company said it reasonably expects favourable orders from the appellant authorities. Tata Chemicals is a Tata group company. Shares of Tata Chemicals settled 0.31 per cent higher at Rs 1,035.10 per cent on the BSE.

Tata Chemicals stock slides over 7%; Tata Steel, Motors & TCS also dip

Apart from Tata Chemicals, shares of other Tata Group companies were also trading in red. Tata Motors dipped for a third consecutive trading session on Wednesday

These 2 Tata Group stocks can dip up to 16% in the near term, charts hint

Tata Chemicals had rallied 46 per cent in the last six trading sessions; a 50 per cent retracement of the rally could see the stock dip to Rs 1,217, shows chart

M&M promoter group entity sells 0.7% stake, Tata Chemicals gains 11%, more

Shares of Mukka Proteins, an aqua feed producer, surged more than 50 per cent during their trading debut on Thursday

Tata Chem soars 15% in 5 days, nears 52-wk high as Fitch revises outlook

Fitch Ratings has revised the outlook on TCL's long-term foreign-currency Issuer default rating (IDR) to 'Stable' from 'Positive'

Tata Chemicals Q3 results: Profit drops 60% to Rs 158 cr on weak demand

Soda ash, the company's largest business, suffered last year as falling caustic soda prices made it more appealing than soda ash for the silicate market, prompting it to cut prices to stay competitive

TCS, Tata Motors, Titan, IHCL: Track key levels for Tata Group stocks

Among the Tata Group stocks, shares of Tata Motors could potentially top the Rs 900-mark, while a select few could gain in the range of 15 - 19 per cent from present levels.

Tata Chemicals posts 32% drop in Q2 profit on weak demand, prices

The company's market share in key markets have remained relatively stable by staying close to customers, he added

Tatas zero in on Sanand for Rs 13,000 crore lithium ion cell plant

Sanand came into the limelight in 2008 when Tata decided to move its greenfield Nano plant there from Singur in West Bengal after facing opposition from chief minister Mamata Banerjee

Stocks to Watch today, Aug 08: Airtel, Max Health, GIC Housing, Sobha, BEML

Stocks to watch on August 08, 2023: Adani Ports, Coal India, Hindalco, Jet Airways, Oil India and Utkarsh SFB are few of the notable companies to announce June quarter earnings on Tuesday.

Tata Chemicals posts drop in June quarter profit on lower prices, volumes

India's Tata Chemicals Ltd posted a 9.7% fall in first-quarter profit on Monday, hurt by a fall in soda ash prices and lower volumes

Rekha Jhunjhunwala sells additional 6.25% holding in Rallis India this week

Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjunwala, has sold an additional 6.2586 per cent holding in Tata Chemicals subsidiary Rallis India this week, as per a disclosure published by exchanges on Friday. Jhunjhunwala, who is the nominee and executor to the Estate of Late Rakesh Jhunjhunwala, said she now holds 44.30 lakh shares in the company, which is 2.278 per cent of all outstanding shares. In the communication to exchanges on Thursday, Jhunjhunwala disclosed that as of March 11, 2013, she had a holding of 2.03 crore shares, representing 10.4581 per cent of the then total issued and paid-up capital in the company. From that date to July 17 this year, Jhunjunwala said she and persons acting in her concert have sold over 37 lakh shares in the company, which is 1.9446 per cent of the total shareholding. Between July 18 (Tuesday) and July 20 (Thursday), she sold 1.21 crore shares more, which is 6.2586 per cent of the overall shareholding, as per the disclosure. The shar

Rallis India trades flat day after Rekha Jhujhunwala offloads 5.5% stake

Tata Chemicals acquired 9.7 million shares of its subsidiary for Rs 208 crore through a bulk deal, with face value of Re 1 each at Rs 215.05 per equity share.

Tata Chemicals buys 9.7 mn shares of subsidiary Rallis India for Rs 208 cr

Tata Chemicals on Tuesday said it has acquired 97 lakh shares of its subsidiary Rallis India for Rs 208 crore through a block deal, increasing its stake by 5 per cent to 55.04 per cent. In a regulatory filing, Tata Chemicals said the company acquired 97 lakh equity shares of Rallis India, with face value of Re 1 each, at Rs 215.05 per equity share. This represented 4.99 per cent of the paid-up share capital of Rallis. Agri inputs firm Rallis is into manufacturing, distribution, sales and marketing of crop protection and crop nutrition products, and a variety of field crop and seeds. Recently, Rallis reported a marginal fall in net profit at Rs 63 crore for June quarter as against Rs 67 crore in the year-ago period. Total income fell to Rs 765 crore in April-June of this financial year from Rs 867 crore in the corresponding period of the previous year.

Tata Chemicals Q4 profit surges 62%, driven by strong soda ash demand

India's Tata Chemicals Ltd posted a 62% jump in fourth-quarter profit on Wednesday, helped by demand for products such as soda ash, bicarbonate and salt

From Adani Wilmar to Havells India: Q4 results to watch out for today

Q4 results: Godrej Properties, Reliance Power, Bajaj Consumer, Chola Investment, JK Agri Genetic, Petronet LNG, Sula Vineyards, Sonata, and Tata Chemicals will also announce their results today

Tata Chemicals declines 7% after company slashes soda ash prices

Analysts at Kotak Institutional Equities see this as an incremental negative for soda ash prices, though uncertainties remain around demand and supply and will need to be monitored

Tata Chemicals Q3 net profit rises 21.42% to Rs 425 cr; revenue up 32.05%

Tata Chemicals on Wednesday reported a 21.42 per cent growth in consolidated net profit during the December quarter at Rs 425 crore. The company's net profit stood at Rs 350 crore during the corresponding period of the previous fiscal, it said in a regulatory filing. Revenue from operations of the company grew by 32.05 per cent at Rs 4,148 crore during the quarter under review compared to Rs 3,141 crore in the same period last year. "The global demand-supply situation continues to be balanced and an improving demand bias, driven by reopening and stabilisation of economic activity, including newer applications like solar glass, resulted in stable realisations. "Our digital and sustainability transformation agenda continues in partnership with our customers and other stakeholders," Tata Chemicals Managing Director and CEO R Mukundan said. Shares of the company on Wednesday closed 1.62 per cent down at Rs 957.35 apiece on the BSE.

Vertex inks pact with Tata Chemicals Europe for sale of low-carbon hydrogen

Essar group-promoted Vertex Hydrogen has signed a deal for the sale of over 200 megawatts of low-carbon hydrogen to Northwich-based Tata Chemicals Europe (TCE), the firm said Thursday. "Under the new offtake agreement, Vertex will supply TCE with hydrogen as the manufacturer continues to decarbonise its operations in the UK with a target of achieving 'net zero' manufacturing by 2030," Vertex said in a statement. TCE is one of Europe's leading producers of sodium carbonate, salt, sodium bicarbonate and other products used in the manufacturing of food and animal feed, glass, detergents, chemicals and several other industry applications. In June 2022, Tata opened the UK's first industrial-scale carbon capture and usage plant. The 20 million pound investment captures 40,000 tonnes of carbon dioxide each year, equivalent to taking over 20,000 cars off the road. Vertex Hydrogen is a joint venture between Essar Oil UK and Progressive Energy. It is building the UK's first low-carbon hydrog

Stocks to Watch: Adani Group, Tata Motors, Dr.Reddy's, DLF, Airtel, IGL

Stocks to Watch: Adani Enterprises FPO and Earthstahl & Alloys IPO opens for subscription on Friday. Shares of Adani Group companies also likely to be in focus amid the Hindenburg controversy.