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Tata Chemicals moves up on inking Business Transfer Agreement with ASL

09 Apr 2018

Tata Chemicals is currently trading at Rs. 727.10, up by 3.50 points or 0.48% from its previous closing of Rs. 723.60 on the BSE.

The scrip opened at Rs. 729.00 and has touched a high and low of Rs. 731.30 and Rs. 726.00 respectively. So far 12289 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. 731.30 and Rs. 679.65 respectively. The current market cap of the company is Rs. 18434.16 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 signed a Business Transfer Agreement (BTA) with Allied Silica (ASL) to acquire their business of precipitated silica including its plant at SIPCOT Industrial Park Phase II, Cuddalore in state of Tamil Nadu on a slump sale basis.

This acquisition is a part of the Rs 295 crore investment approved by the board of Tata Chemicals in February 2017, for entry into the Highly Dispersible Silica (HDS) business.

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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SEBI Registered: Investment Adviser - INA000013323