Why This Tata Stock Is Surging 4% Today

Tata Chemicals’ share price surged up over 4% on Wednesday to hit an intraday high of ₹1,063.

What Happened: The surge in the Tata Group company as several chemical stocks are trading higher on reports that soda ash prices may increase in the next week. As per a Zee Business report, a 5% rise in Soda Ash prices is expected next week amid tight supplies in China due to the major plants shut down.

The news today has helped the stock continue making gains for the second straight session. Other chemical stocks such as Aarti Industries, Tatva Chintan Pharma Chem, SRF and Anupam Rasayan were all trading in the green on Wednesday morning.

See Also: TCS Shares Wobbly Ahead Of Q2-Print: What To Expect

Shares of Tata Chemicals haven’t had much to cheer this year at the bourses. The stock has traded flat for the better part of the year. In the past six months, the stock has climbed up around 4%.

Tata Chemicals’ share price over the past six months.

Price Action: Tata Chemicals’ share price was up 3.21% to trade at ₹1,049.40 on Wednesday morning.

Read Next: Why Bank Of Baroda Shares Are Nosediving Today

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesMarketsMoversTrading IdeasTata ChemicalsTata Group