MUMBAI: Shares of Tata Chemicals rose 13.5% on Wednesday amid volatility in the market, a day after the company’s strong first-quarter performance in higher volumes. The stock has touched the highest level till date 1,086.55 each, down 6.5% from its 52-week high.
Being an F&O stock there is no filter, and futures of the shares were most actively traded over the counter, indicating buyer interest.
Tata Chemicals reported consolidated revenue of 3,995 crore for the quarter ended June 30, up 34% year-on-year, with net profit 642 crore during the period as compared to 342 crore a year ago.
FIIs increased their stake in the company to 14.99% in the June quarter from 13.62% in the previous quarter, while mutual funds together raised stake to 7.58% from 7.36%.
Till date 19.32 lakh shares have been exchanged, which is the highest in three months.
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