Tata Chemicals gains on plan to invest Rs 150 crore to set up nutraceutical plant in Chennai

15 Dec 2014

Tata Chemicals is currently trading at Rs. 415.05, up by 1.70 points or 0.41% from its previous closing of Rs. 413.35 on the BSE.

The scrip opened at Rs. 411.00 and has touched a high and low of Rs. 417.15 and Rs. 408.10 respectively. So far 26314 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 460.00 on 05-Dec-2014 and a 52 week low of Rs. 244.80 on 28-Jan-2014.

Last one week high and low of the scrip stood at Rs. 452.30 and Rs. 412.10 respectively. The current market cap of the company is Rs. 10567.29 crore.

The promoters holding in the company stood at 31.06% while Institutions and Non-Institutions held 46.43% and 22.51% respectively.

Tata Chemicals, a leading crop nutrition and agri solution manufacturer and marketer, is reportedly planning to invest around Rs 150 crore to set up a nutraceuticals manufacturing facility in Sriperumbudur, near Chennai in next three years. The company is in talks with various players in various parts of the world for exports of nutraceutical products and it would be primarily to the European and other Asian countries.

The company is expecting its branded and non-commodity business, which is currently at 22 per cent of the turnover, to go up to 50 per cent in next seven years. The company's strategy is to focus on the farm solutions and food products business.

Tata Chemicals is the world’s second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. The company’s industry essentials product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products.

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