Tata chemicals gains on buzz of planning to acquire battery materials business of Johnson Matthey
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Tata Chemicals is currently trading at Rs. 873.30, up by 4.55 points or 0.52% from its previous closing of Rs. 868.75 on the BSE.
The scrip opened at Rs. 870.00 and has touched a high and low of Rs. 892.45 and Rs. 870.00 respectively. So far 114098 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1158.00 on 18-Oct-2021 and a 52 week low of Rs. 387.50 on 01-Dec-2020.
Last one week high and low of the scrip stood at Rs. 923.65 and Rs. 829.25 respectively. The current market cap of the company is Rs. 22258.06 crore.
The promoters holding in the company stood at 37.98%, while Institutions and Non-Institutions held 34.50% and 27.53% respectively.
Tata Chemicals is reportedly planning to acquire the battery materials business of London-based Johnson Matthey at a valuation of $500-700 million. This will provide an edge to the Tata group in the fast-growing electric vehicle market.
Tata Chemicals is the second-largest producer of soda ash in the world with manufacturing facilities in India, UK, Kenya and USA. It is India’s leading crop nutrients player and a leading player in crop protection business through its subsidiary Rallis India.
