Tata Chemicals Extends Gain, Shares Jump 12% In Two Days
Tata Chemicals shares jumped nearly 3 per cent on Thursday, extending its gains to second straight day. Including today's gains, the stock has jumped nearly 12 per cent in two sessions.Â
Trading volume in the counter also remained high. On Bombay Stock Exchange, 2.22 lakh shares exchanged hands as of 11.14 a.m. compared to its two-week average trading volume of 1.71 lakh shares.Â
The gains in shares of Tata Chemical shares came after the company announced sale of its urea business to Yara India for Rs 2,670 crore.Â
Tata Chemicals said divestment of the urea business will unlock value for the company, strengthen its balance sheet and will help to pursue growth potentials and opportunities in line with its strategic directions.Â
Tata Chemical shares closed 1.23 per cent lower at Rs 497.9 apiece compared to 0.2 per cent gain in the broader Nifty.
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