Ingredients distributor Univar has secured a deal with Tata Chemicals to bring the Indian company’s fermented, digestive health ingredients to Canada.
Tata NQ, the nutritional solutions division of Tata Chemicals, offers customers digestive health ingredients with benefits which aim to meet growing consumer nutritional trends.
With this agreement, Univar will be the exclusive distributor of Tata NQ’s Fossence and Gossence prebiotic dietary fibre portfolio of ingredients for the Canadian market.
This is good news as it will help Tata Chemicals get an entry into North America, a very lucrative market for its Tata NQ products.
Following this news, the stock, in a lackluster market has shown some buoyancy, going up 3% to Rs.718 levels and currently seems to be attracting a lot of positive attention.
Meanwhile, Tata Chemicals had ended Q2FY19 with a 17% (YoY) rise in net profit at Rs.409 crore on a 12.5% rise in total income at Rs.3084 crore.