Tata chemicals share: Talking about the stock of Tata Chemicals, it closed at Rs 1051.65 on Monday. The stock closed 3.24% lower than the previous day’s closing.
Tata Chemicals Share: Tata Chemicals, a Tata Group company, has released the results for the June quarter. The company’s net profit declined by 72 percent to Rs 150 crore in this quarter. The company had posted a net profit of Rs 532 crore in the year-ago period. Total income also declined to Rs 3,836 crore in the April-June quarter from Rs 4,267 crore in the year-ago period, it added. The company’s total expenses rose to Rs 3,621 crore from Rs 3,527 crore during the period.
At the operating level, Tata Chemicals’ Ebitda fell 45% to Rs 574 crore in the June quarter from Rs 1,043 crore in the year-ago period. Apart from this, Ebitda margin was 15.2%. Consolidated gross debt increased to ₹6376 crore as of 30th June 2024.
What the company’s MD said
R Mukundan, managing director and CEO of Tata Chemicals, said, “Overall demand for soda ash remained flat during the quarter due to strong demand for flat glass, container glass and solar glass globally, while demand moderation was observed in Europe. He further said that China’s demand has remained stable. The company has given satisfactory performance during the June quarter of the current financial year as compared to the March quarter of FY24.
Stock Status
Talking about the stock of Tata Chemicals, it closed at Rs 1051.65 on Monday. The stock closed 3.24% lower than the previous day’s closing. The stock went up to Rs 1,349.70 in March 2024. This is the stock’s 52-week high. On 29 February 2024, the stock hit a 52-week low of Rs 933.
Big decline in the market
Meanwhile, the stock market fell strongly on Monday and the BSE Sensex dived more than 2,200 points. At the same time, the National Stock Exchange’s Nifty also saw a big decline of 662 points. Due to this decline, investors have lost more than Rs 15 lakh crore in a day.