Tata Sons Pvt Ltd, promoter of Tata Chemical, on Friday bought more than 25 lakh shares of the company worth over ₹121 crore at an average price of ₹471.88 via open market transaction. This took the total deal value to ₹121.35 crore.
Tata Sons on Wednesday purchased more than 18 lakh scrips of the company worth over Rs 76 crore via open market transaction. As per Tata Chemicals’ shareholding data for September 2020 quarter, Tata Sons held a 29.39 percent stake in the company as a promoter.
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.
