Tata Chemicals was down 1.72% to Rs 497.35 at 9:37 IST on BSE after consolidated net profit rose 0.08% to Rs 293.04 crore on 17.35% decline in total income to Rs 3522.29 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 10 November 2016.Meanwhile, the S&P BSE Sensex was down 411.53 points or 1.5% at 27,106.15.
On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 1 lakh shares in the past two weeks. The stock hit a high of Rs 500 and a low of Rs 494.40 so far during the day. The stock had hit a 52-week low of Rs 310.05 on 26 February 2016. The stock had hit a record high of Rs 585.10 on 24 October 2016.
The large-cap company has equity capital of Rs 254.76 crore. Face value per share is Rs 10.
Tata Chemicals' Managing Director R. Mukundan said the quarter continued to witness a steady performance from the chemicals business in India. In other geographies, the European operations continue to show improved profitability. The company's focus remains on increasing operational performance across geographies, while remaining watchful of the volatility in the market. All requisite formalities on the sale of the urea business to Yara International are progressing as per expectations, he said. Going forward, the company will continue to focus on the consumer facing business and non-subsidy based farm business, with consumer products and specialty chemicals being its key areas of growth, Mukundan said.
Tata Chemicals is the market leader in India's branded iodised salt segment. It is currently is the world's second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. It is a leading manufacturer of urea and phosphatic fertilizers and, through its subsidiary Rallis, has a strong position in the crop protection business. The company's Centre for Agri-Solutions and Technology provides advice on farming solutions and crop nutrition practices.
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