Tata Sons buys 0.71% stake in Tata Chemicals for around ₹76 crore
PremiumTata 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
PremiumMumbai: 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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