Tata Chemicals strengthens on getting nod for merger of Homefield International with itself

30 Apr 2014

Tata Chemicals is currently trading at Rs 296.90, up by 2.80 points or 0.95% from its previous closing of Rs. 294.10 on the BSE.

The scrip opened at Rs 296.05 and has touched a high and low of Rs 297.50 and Rs 295.00 respectively. So far 8065 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 333.90 on 02-May-2013 and a 52 week low of Rs 234.50 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs 302.90 and Rs 281.00 respectively. The current market cap of the company is Rs 7492.38 crore.

The promoters holding in the company stood at 31.06% while Institutions and Non-Institutions held 44.34% and 24.60% respectively.

Tata Chemicals (TCL) has received an approval for scheme of amalgamation of Homefield International (Mauritius), a wholly owned subsidiary of the company with itself under the provisions of Companies Act, 1956. The High Court of Bombay vide its order dated March 7, 2014 has sanctioned for the same.

Accordingly, in terms of the scheme, all assets and liabilities of Homefield International, under the provisions of Companies Act 1956, stands transferred to and vested in the company. As Homefield International is a wholly owned subsidiary, no shares of the company will be issued and allotted in lieu or exchange of the equity shares of Homefield International.

Tata Chemicals, part of the Tata Group, is a leading manufacturer of chemicals, fertiliser and food additives. Tata Swach is a water purifier developed by Tata Chemicals.

 

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