scorecardresearchTata Chemicals gains nearly 9% on strong Q1 results

Tata Chemicals gains nearly 9% on strong Q1 results

Updated: 10 Aug 2022, 12:10 PM IST
TL;DR.

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

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

(PTI) 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 999.95, then gained further ground to touch 1,043, registering a jump of 8.96 per cent over its previous close.

On the NSE, the stock opened at 1,015, then climbed to 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 637 crore during the quarter ending June 30.

The company's net profit stood at 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 3,995 crore, compared to 2,978 crore in the same period of last fiscal. 

First Published: 10 Aug 2022, 12:10 PM IST