Tata Chemicals gains on hiking stake in Rallis India

Tata Chemicals is currently trading at Rs. 998.00, up by 4.80 points or 0.48% from its previous closing of Rs. 993.20 on the BSE.

Tata Chemicals
Tata Chemicals

The scrip opened at Rs. 994.00 and has touched a high and low of Rs. 1006.35 and Rs. 993.15 respectively. So far 27480 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1214.65 on 11-Oct-2022 and a 52 week low of Rs. 853.00 on 19-Jul-2022.

Last one week high and low of the scrip stood at Rs. 1006.35 and Rs. 972.00 respectively. The current market cap of the company is Rs. 25455.25 crore.

The promoters holding in the company stood at 37.98%, while Institutions and Non-Institutions held 34.38% and 27.65% respectively.

Tata Chemicals has acquired 97,00,000 equity shares having face value of Rs 1 each of Rallis India (Rallis), a listed subsidiary of the company, at Rs 215.05 per equity share representing 4.99% of the paid-up share capital of Rallis by way of a block deal today i.e. July 18, 2023. The aforesaid acquisition has resulted in increase in shareholding of the company in Rallis to 55.04%.

Tata Chemicals is the second-largest producer of soda ash in the world with manufacturing facilities in India, UK, Kenya and USA. It is India’s leading crop nutrients player and a leading player in crop protection business through its subsidiary Rallis India.