Tata Chemical’s share rise over 7pc on announcement of merger into TGB
May 16, 2019
price of Tata Chemicals rose to an intraday high at Rs606 per share or over 8%
high at NSE after the company announced about transfering its consumer products
biz to Tata Global Beverages (TGB).
Wednesday, Tata Chemicals Limited in a release said that the company
will de-merge its consumer products business in an all equity transaction. Tata
Chemical’s Consumer products will include all of Tata Chemicals’ Consumer products
such as spices, salt, pulses, snacks, natural sweeteners, protein foods and
transfer is also expected to merge key brands like Tata Tea, Tata Salt, Tata
Sampann and Tetley under a single umbrella.
At 11:40 am, Tata Chemicals’ stock price surged 7.29% to Rs 597.40 per share on the NSE. In comparison, the NSE Nifty50 traded at 11,174.70 up 17.70-pts and Sensex at 37145.77, up 30.89pts.