Tata Chemicals is down in the red today, slipping 2% intra day to Rs.420.60. It has not exactly slumped but it remains in the red.

The market is taking its news with a pinch of salt, just like the exit of Rajan! The company announced on Friday evening that it wa suspending its production of DAP at its Haldia plant.

The company stated, “due to emerging market conditions with effect from June 19, 2016, the Company has decided to supply Di-ammonium Phosphate (DAP) to its customers from inventory in hand and imports, and consequently production of complex fertilisers, including DAP, is being temporarily suspended at Haldia, West Bengal. Production of Single Super Phosphate (SSP) remains unaffected.”