Tata Chemicals gains nearly 9 pc on strong Q1 results

Shares of Tata Chemicals gained nearly 9 per cent in morning trade on Wednesday after the company posted strong first-quarter earnings.

Shares of Tata Chemicals opened on a bullish note at Rs 999.95, then gained further ground to touch Rs 1,043, registering a jump of 8.96 per cent over its previous close.

On the NSE, the stock opened at Rs 1,015, then climbed to Rs 1,038.05, higher by 8.47 per cent over its last close.

Tata Chemicals on Tuesday reported an 86.25 per cent increase in consolidated net profit to Rs 637 crore during the quarter ending June 30.

The company’s net profit stood at Rs 342 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing.

Revenue from operations rose 34.15 per cent during the quarter under review at Rs 3,995 crore, compared to Rs 2,978 crore in the same period of last fiscal.

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