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ICICI Prudential MF cuts stake in Tata Chemicals

ICICI Prudential Mutual Fund (MF) sold 8.10 lakh equity shares, or 0.32% stake, in Tata Chemicals on Thursday, 4 March 2021.As a result of the aforesaid transactions, the shareholding of the fund has decreased to 3.05% compared with 3.37% held earlier. On a consolidated basis, the chemical maker s net profit rose 0.2% to Rs 200.72 crore on a 0.7% decline in net sales to Rs 2,606.08 crore in Q3 FY21 over Q3 FY20. Shares of Tata Chemicals advanced 2.17% to Rs 764.30 on BSE. Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products and specialty chemistry products. Powered by Capital Market - Live News

Tata Chemicals appoints N S Tirumalai as new CFO

The board of Tata Chemicals has approved the appointment of Nandakumar S. Tirumalai as the chief financial officer and key managerial personnel of the company with effect from 1 April 2021.Nandakumar S. Tirumalai is currently the vice president (finance) with Titan Company. Meanwhile, John Mulhall will cease to be CFO of Tata Chemicals with effect from the end of 31 March 2021. Mulhall is transitioning into the role of managing director & CEO of Tata Chemicals North America, Inc., a wholly owned subsidiary of the company. Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products and specialty chemistry products.

Tata Chemicals spurts on acquisition buzz

Tata Chemicals rose 3.99% to Rs 543.70, following the media report that the Tata Group company is in advanced talks to acquire the industrial salt unit of Archean Group.The media reported that Tata Chemicals is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at Rs 450 crore ($61 million) at a minimum. The board of Tata Chemicals is set to discuss the potential offer as soon as this month, the report added. The BSE has sought clarification from Tata Chemicals on 13 January 2021, with reference to a media report. The reply is awaited. Archean Group is a privately held business conglomerate, with diversified business interests across sectors including industrial salt, industrial chemicals & fertilizers, mining & minerals and granites. operations and strategic investments are spread across India, South America, Middle East, Africa, Far East and South East Asia.

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