Shares of Tata Chemicals Ltd. rose the most in over eight months after it agreed to set up an electric vehicle battery plant in Gujarat.
The company has signed a memorandum of understanding with the Government of Gujarat to set up a 20 gigawatt-capacity lithium-ion cell manufacturing factory with an investment of Rs 13,000 crore.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The deal to set up the cell manufacturing unit stems from the state's resolve to adopt 100% electric vehicles and reduce carbon emissions by 50% by 2030.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Tata Chemicals (Soda Ash) Partners will be converted from a partnership to a limited liability company, resulting in a change of name to Tata Chemicals (Soda Ash) Partners LLC, as per an exchange filing in which it announced the reorganisation of U.S. operations to rationalise the number of intermediate entities.
Tata Chemicals will also merge two intermediate holding entities into the above-mentioned company. Furthermore, it will merge Valley Holdings Inc. into Tata Chemicals North America Inc.
Crisil has reaffirmed 'A1+' ratings on the company's commercial paper worth Rs 100 crore, according to an exchange filing.
Shares of Tata Chemicals Ltd. rose 3.98% to Rs 1,008.4 apiece as of 10:17 a.m. on Monday, compared to 0.46% advance in the benchmark Nifty 50. The stock rose as much as 4.96% intraday, the most in over eight months since Oct. 4, 2022.
The total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 63.6.
Out of the nine analysts tracking the company, seven maintain a 'buy' rating and two recommend a 'hold' on the stock, according to Bloomberg data.
The average 12-month consensus price target implies a potential upside of 10.5%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
