Tata Chemicals on +ve reaction

Tata Chemicals is on a new high today also, at Rs.389.25, with a spurt in volumes of almost 1.5 times. It continues to remains strong around the high levels. The stock has been consistently scaling new highs since the past couple of days.

The stock is on the rise on the back of its exuberant Q1FY15 numbers. Its been a while since Tata Chemicals results have brought so much cheer. Thanks to the good performance clocked in by its soda ash unit and higher realizations from North America, the company’s consolidated net profit jumped up by a huge 133% (YoY) rise at Rs.175 crore, up from Rs.75 crore in previous Q1. The company had posted a huge net loss of Rs.1226 crore in Q4. This bottomline growth was supported by a 17% rise in net sales at Rs.3803 crore.