Tata Chemicals Share Rises on Restructuring Announcement
Tata Chemicals’ share has been on a rise for the past two business days. On Monday, the company’s share on BSE rose by 4.97% from the previous close of INR 969.80 to INR 1,018. However, the share closed at INR 995.70 despite profit recovery at the end of the business day. The firm’s market cap is INR 25,366 crore.
Reasons for the Share’s Surge
The surge in Tata Chemicals’ share price can be attributed to the company’s announcement to restructure its US business. The company modified the holding structure of its American operations, which includes rebranding and the merger of Tata Chemicals (Soda Ash) Partners LLC with TCI SODA Holdings Inc. and TCSAP LLC.
Performance of the Share
Tata Chemicals’ share has increased by 6.45% in the past year. The share has seen a growth of 34% in two years and 213% in three years. On October 11, 2022, the share reached its 52-week high of INR 1214.65, while on July 1, it reached its 52-week low of INR 773.90. The share was priced at INR 15 in 2000, resulting in a return of 2075% for investors in 23 years.
Brokerage Target Price
As per analysts at Geojit Financial Services, Tata Chemicals’ share can reach a target price of INR 1340 due to the long-term increase in demand for soda ash. In the March quarter of FY23, the company’s profit was INR 709 crore, 61.87% higher than the previous year’s INR 438 crore. However, in FY22, the profit was INR 2317 crore.
Disclaimer
This information is provided solely for the share’s performance, and it does not constitute investment advice. Investing in the stock market involves risk, and it is essential to consult an advisor before investing.
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