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