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Business News/ Companies / News/  Tata Sons buys shares worth 121 crore in Tata Chemicals
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Tata Sons buys shares worth ₹121 crore in Tata Chemicals

According to data available on NSE, Tata Sons bought 25,71,651 shares of the company at an average price of ₹471.88
  • Tata Chemicals reported a 64% fall in consolidated net profit at ₹132.09 crore for the quarter ended September
  • Latest shareholding shows, Tata Sons held 29.39% in Tata Chemicals (MINT_PRINT)Premium
    Latest shareholding shows, Tata Sons held 29.39% in Tata Chemicals (MINT_PRINT)

    Mumbai: Tata Sons Pvt Ltd, promoter of Tata Chemicals, on Friday bought more than 25 lakh shares of the company worth over 121 crore via open market transaction.

    According to the bulk deal data available on NSE, Tata Sons bought 25,71,651 shares of the company at an average price of 471.88. This took the total deal value to 121.35 crore.

    Latest shareholding shows, Tata Sons held 29.39% in Tata Chemicals. Earlier mid-week, Tata Sons acquired 18,07,245 shares of Tata Chemicals for 420.92 apiece totaling to 76.07 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 66.90% against a rise of 8.96% in the benchmark index, Nifty. From March lows, Shares of Tata Chemicals more than doubled, while Nifty was up 74.22%.

    Shares of Tata Chemicals gained 7.80% to close at 490.90, while the benchmark index, Nifty gained 0.95% to close at 13,258.55 points on Friday on NSE.

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    Published: 04 Dec 2020, 08:02 PM IST
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