Shares of Tata Chemicals Ltd. declined after the company announced its fourth-quarter results.
The company's fourth-quarter consolidated net profit rose 53.56% year-on-year to Rs 711 crore. Its revenue rose 26.60% to Rs 4,707 crore from a year ago.
For the full year, the company's consolidated revenue from operations rose 33.01% year-on-year to Rs 16,789 crore. Its consolidated net profit surged 86.35% to Rs 2,335 crore over Rs 1,253 crore in FY22.
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Shares of Tata Chemicals fell 1.15% to Rs 981.65 apiece, compared to a 0.24% rise in the benchmark NSE Nifty 50 as of 10:29 a.m. The stock advanced as much as 2.56% intraday.
The total traded volume so far in the day stood at 6.9 times its 30-day average.
Out of the nine analysts tracking the company, seven maintain a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 15.4%.
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