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Business News/ Companies / News/  Tata Sons buys 0.71% stake in Tata Chemicals for around 76 crore
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Tata Sons buys 0.71% stake in Tata Chemicals for around ₹76 crore

Tata Chemicals reported a 64% fall in consolidated net profit at ₹132.09 crore for the quarter ended September against a net profit of ₹367.31 crore in the year-ago period

Tata Sons acquired 22,10,425 shares of Tata Chemicals for ₹287.58 apiece totalling to ₹63.57 crore (MINT_PRINT)Premium
Tata Sons acquired 22,10,425 shares of Tata Chemicals for 287.58 apiece totalling to 63.57 crore (MINT_PRINT)

Mumbai: Tata Sons Pvt Ltd, promoter of Tata Chemicals bought 1.81 million shares or 0.71% for 76 crore in an open market transaction on Wednesday.

According to the bulk deal data on NSE, Tata Sons acquired 18,07,245 shares of Tata Chemicals for 420.92 apiece totalling to 76.07 crore.

According to the latest shareholding pattern, Tata Sons held 29.39% in Tata Chemicals.

In September, Tata Sons acquired 22,10,425 shares of Tata Chemicals for 287.58 apiece totalling to 63.57 crore.

Tata Chemicals reported a 64% fall in consolidated net profit at 132.09 crore for the quarter ended September against a net profit of 367.31 crore in the year-ago period. Total income fell 6.1% to 2,677.9 crore in the second quarter from 2,861.35 crore in the corresponding period of the previous year.

From the beginning of the year, Tata Chemicals gained 45.30% against a rise of 7.77% in the benchmark index, Nifty. From March lows, Shares of Tata Chemicals more than doubled, while Nifty was up 72.32%.

Shares of Tata Chemicals gained 5.53% to close at 427.35, while the benchmark index, Nifty gained 0.04% to close at 13,113.75 points on Wednesday on NSE.

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Published: 02 Dec 2020, 09:22 PM IST
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