HLL sells about 2% Tata Chem stake to Tata Sons

Hindustan Lever today sold nearly 2% stake in Tata Chemicals for
over Rs 94 crore to Tata Sons, a part of the promoter group.

The FMCG giant today sold 4.25 million shares, representing 1.97% stake, of Tata Chemicals for Rs 222.10 apiece to Tata Sons.

After the sale, HLL's holding in the company came down to 3.58% from
5.55%. Tata Sons' shareholding, on the other hand, went up to
14.08% from 12.31%. Following the acquisition, the Tata Group's stake has gone up to 30.59%.

The Tata Chemicals stock today closed at Rs 224.80 on the Bombay Stock Exchange, 1.22% higher than yesterday's close of Rs 222.10.

Tata Chemicals is a leading manufacturer of chemicals, fertilisers and food
additives. It is the third largest soda ash player in the world, enjoys
leadership in the Indian edible salt market.

During the first quarter of the current year, it posted 49% growth
in income from operations (net of excise) at Rs 757 crore from Rs 510 crore.

Profit from operations grew by 40% to Rs 161 crore compared to Rs
115 crore. Profit before tax and net profit after tax were both up 16% at Rs 110 crore and Rs 75 crore, respectively.