Stock Market News: Shares of Tata Chemicals and Tata Elxsi, the chemical and technology services subsidiaries of the Tata Group, have outperformed being multibaggers over the year. Tata Alexi is one of the world’s leading providers of design and technology services for product engineering and solutions, while Tata Chemicals is a leading chemical company in India dealing with soda ash, soda bicarbonate, cement, salt and other products.
Shares of Tata Alexi have delivered multibagger returns this year (Year-to-date or YTD) alone, rising by over 130% and rising by over 300% in the previous year. On the other hand, the stock of Tata Chemicals has jumped over 75% in 2021 and almost 180% in one year.
Tata Chemicals reported a manifold jump in consolidated net profit (Rs 342 crore) for the June quarter, helped by a rebound in soda ash volumes in the US and India. The company’s consolidated net profit stood at Rs 74 during the year-ago quarter. Its income from operations grew 27% to Rs 2,977 crore from Rs 2,348 crore in the year-ago period.
Design and technology services provider Tata Alexi’s net profit rose 64% to ₹113.4 crore for the June 2021 quarter, from ₹68.9 crore year-on-year (YoY). Its revenue from operations grew 39% to Rs 558.3 crore for the said quarter, from Rs 400.5 crore for the same period a year ago.
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