Tata Chemicals gains on getting nod for Scheme of Amalgamation with WOS

26 Mar 2018

Tata Chemicals is currently trading at Rs. 668.90, up by 1.80 points or 0.27% from its previous closing of Rs. 667.10 on the BSE.

The scrip opened at Rs. 667.10 and has touched a high and low of Rs. 670.90 and Rs. 664.45 respectively. So far 723 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 781.20 on 11-Jan-2018 and a 52 week low of Rs. 558.00 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 682.05 and Rs. 653.75 respectively. The current market cap of the company is Rs. 16994.79 crore.

The promoters holding in the company stood at 30.80%, while Institutions and Non-Institutions held 42.98% and 26.22% respectively.

Tata Chemicals has received board’s approval for the Scheme of Amalgamation for the merger of Bio Energy Venture 1 (Mauritius) a wholly owned subsidiary (WOS) of the company with itself. The merger is subject to the necessary statutory and regulatory approvals, including approval of the National Company Law Tribunal. The company’s Board of Directors at its meeting held on March 23, 2018, approved the same.

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.

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