Tata Chemicals Defies Market Mood, Rallies 13% on Stellar Q1 Show

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Tata Chemicals Defies Market Mood, Rallies 13% on Stellar Q1 Show
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the leading chemical company Tata Chemicals (NS: TTCH ) zoomed 13.2% to Rs 1,083.35 apiece at the time of writing on Wednesday, compared to the broader market sentiments with benchmark indices Nifty50 and Sensex trading up to 0.2% lower.

The stock rally came in response to a stellar earnings report for the June 2022 quarter, with consolidated net profit jumping 86.25% YoY to Rs 637 crore and revenue from operations surged 34.15% YoY to Rs 3,995 crore in the quarter.

The Tata Group company’s earnings per share (EPS) soared 104.6% YoY to Rs 23.12 in the June quarter and EBITDA jumped 61.86% YoY to Rs 1,061 crore in the period.

The company’s management expects the positive momentum to continue in the near to medium term, while the input side environment, especially energy remains at elevated levels coupled with logistic challenges that continue to be seen in the market.

"The operating performance reflects improved realisations, efficient cost management and optimum capacity utilisation in challenging market conditions, and in the context of rising input and energy costs," the firm noted.

The large-cap chemical scrip is up 15.5% so far in 2022 and has advanced almost 23% in a year.

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  • Kiran Raul @Kiran Raul
    More to come
    Like 3
    • krishnaraja G @krishnaraja G
      @Kiran Raul will the price still increase for tatachemi?
      Like 0
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