Tata Chemicals Cuts Soda Ash Prices By Over 5%
Tata Chemicals Ltd. has cut the price of domestic soda ash by over 5% with effect from Aug. 2.
As such, soda ash light will now be priced at Rs 30,500 per tonne, while those of soda ash dense will cost Rs 31,000 per tonne, effective Aug. 2, according to the company's website.
On June 13, detergent maker Nirma slashed its soda ash prices by Rs 2,000 a tonne, following which, Tata Chemicals cut its price by Rs 2,300 a tonne.
Prices have been cut in West Bengal, Tamil Nadu, Pondicherry, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Bihar, Jharkhand, Chhattisgarh, and the rest of India.
Since February, Tata Chemicals has cut price of soda ash by over 16%.
Over half of the soda ash produced is used in glass manufacturing. However, it is also used in powdered detergents, soaps, and rechargeable batteries, as well as in the food, cosmetics, and pharmaceutical industries.
Shares of the company fell 2.77% to Rs 1043.15 apiece, compared to a fall of 0.54% in the benchmark NSE Nifty 50 on Wednesday at 10:13 a.m.
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