Tata Sons buys shares worth ₹121 crore in Tata Chemicals
Premium- 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
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.
