Tata Chemicals said it shut down its manufacturing operations located at Andhra Pradesh and Tamil Nadu due to COVID-19 pandemic.
In view of the outbreak of the Coronavirus (COVID-19) pandemic and in compliance with the orders issued by the government authorities, the company has effective from 24 March 2020 shut down its manufacturing operations located at Mambattu-Nellore (Andhra Pradesh), Sriperumbudur (Tamil Nadu) and Cuddalore (Tamil Nadu).The company has also scaled down its operations at Mithapur (Gujarat) for the production of soda ash and cement. The firm is striving to ensure normalcy in the production and movements of Tata Salt and sodium bicarbonate which are essential inputs for food and pharma products.
The duration of this shut down/scale down is uncertain at this point in time and the resumption of operations at these locations will depend upon the directives issued by the respective government authorities, the company said during market hours today, 25 March 2020.
Shares of Tata Chemicals climbed 5.62% to Rs 212.45. The scrip was trading in the range of Rs 201.60 to Rs 213 so far.
On a consolidated basis, the chemical company's net profit rose 6.5% to Rs 233.84 crore on a 2% rise in net sales to Rs 2,620.38 crore in Q3 December 2019 over Q3 December 2018.
Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products, consumer and specialty products.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
