Tata Chemicals shares surge nearly 10% to a 52-week high on Q1 earnings

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Tata Chemicals’ stock soared over 10% on Friday after the firm reported a multi-fold increase in consolidated net profit for the June quarter. On the BSE, the stock rose 9.70 percent to a 52-week high of Rs 844.

It soared 9.71 percent to a 52-week high of Rs 844 on the NSE. Tata Chemicals recorded a multi-fold increase in consolidated net profit for the June quarter, to Rs 342.33 crore, thanks to a comeback in soda ash shipments in the US and India.

Tata Chemicals’ consolidated net profit for the same quarter of 2020-21 was Rs 74.15 crore, according to a BSE report.

The income from operations increased by 27% to Rs 2,977 crore from Rs 2,348 crore the previous year. This was mostly due to a comeback in soda ash volumes in the United States and India, according to the business.