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Tata Chemicals stock hits 52-week high as LIC raises stake

Share price of Tata Chemicals rose up to 4.19% to Rs 367.90 against previous close of Rs 353.10 on BSE

twitter-logoBusinessToday.In | November 20, 2020 | Updated 16:31 IST
Tata Chemicals share price hits 52-week high as LIC raises stake
Tata Chemicals stock has gained 10.33% in the last 3 days.

Tata Chemicals share price hit a fresh 52-week high on November 20 after state-run Life Insurance Corporation (LIC) of India raised stake in the company. Share price of Tata Chemicals rose up to 4.19% to Rs 367.90 against previous close of Rs 353.10 on BSE.

Tata Chemicals stock has gained 10.33% in the last 3 days. Tata Chemicals share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The share has gained 26.11% in one year and risen 22.51% since the beginning of this year.

In one month, the stock has gained 10.71% on BSE. Total 4.01 lakh shares changed hands amounting to turnover of Rs 14.34 crore.

Market cap of the firm rose to Rs 9,071 crore.

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Later, the share closed 0.85% higher at Rs 356.10. The share touched a 52 week low of Rs 197.40 on March 23, 2020.

LIC which earlier held 5.03 percent stake in the Tata Group firm has raised it to 7.09% .

The state-run insurer bought 52.39 lakh shares (2.056%) of Tata Chemicals between January 8, 2019 and November, 17 2020.    

In Q2 of current fiscal, Tata Chemicals reported a 64 per cent fall in consolidated net profit at Rs 132.09 crore against net profit of Rs 367.31 crore in the year-ago period. Total income decreased to Rs 2,677.9 crore in Q2 against Rs 2,861.35 crore in the corresponding period of the previous year.

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