Tata Chemicals gains on share sale to Tata Sons

Tata Chemicals has sold its stake in Tata Global Beverages to Tata Sons during Tuesday’s trade.

The company has sold 4,31,75,140 equity shares of face value of Rs 1 each of Tata Global Beverages Limited to Tata Sons Limited at price of Rs 213.35 per share (excluding brokerage and STT), the company informed through a BSE filing.

Meanwhile, the stock gained 2.37% at Rs 657.75 per share on BSE attracting a total traded quantity of 106.30 lakh shares. The stock traded on a fresh 52-week high of Rs 666.75 per share and also witnessed a spurt in the volume of 126.97 times.

The stock on yearly basis has given 18.57% returns and has underperformed BSE Midcap index and Nifty Commodities.

Tata Chemicals Limited is a holding company. The company is a manufacturer of soda ash and sodium bicarbonate for diverse industries, such as glass, detergents, silicates, textiles, food, pharmaceuticals, animal feed, mining and chemical processing.
 

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