
Tata Sons buys 0.71% stake in Tata Chemicals for around ₹76 crore
1 min read . Updated: 02 Dec 2020, 09:22 PM ISTTata 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
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.
Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.