Tata Chemicals is the top gainer on the BSE since opening bell. The stock opened almost 2.5% higher at Rs.962.30 and went up to an intraday high at Rs.1047.75. Its 52-week high is at Rs.1158, with volumes surging around 13-times.
The market has given the stock a big thumbs up for the its Q4FY22 performance. The company reported a consolidated income from operations at Rs. 3,481 crore, up 32% (YoY) and on this PAT came in at Rs.470 crore, up from Rs.29 crore in previous Q4.
Company’s net debt as on March 31, 2022, remained at Rs. 4,233 crore
Production volumes remain strong and at historic highs in the US unit while the company warned too that cost environment is challenging and is likely to stay at elevated levels in the near term.
On Rallis, the company said that it continues with its growth capex investments while focusing on the launch of new products and reducing dependence on imported intermediates.