Tata Chemicals shares zoom 44% in six sessions to strike fresh all-time high; is there a lot more heavy steam left?

Tata Chemicals shares price: The stock surged 14.52 per cent to scale its all-time high value of Rs 1,349.70. At this price, the scrip has actually soared 43.67 percent in 6 trading days.

Tata Chemicals Ltd shares proceed their strong up move for the 6th straight session in Thursday’s trade. The stock rose 14.52 per cent to scale its all-time high value of Rs 1,349.70. At this rate, the scrip has actually risen 43.67 percent in six trading days. The recurring higher march in the share rate could be largely credited to the buzz on Road concerning Tata Sons’ potential listing, which is a marketer in Tata Chemicals.

Experts mostly remained favorable on the counter. Support on the counter will go to Rs 1,140. On the higher side, the stock may see above Rs 1,450 degree in the close to term. Investors must likewise consider scheduling earnings at existing degrees, among the experts stated.

“Reserve Bank of India (RBI) has identified Tata Sons as an upper-layer NBFC (non-banking economic firm), that makes it compulsory to note itself by September 2025. Tata Chemicals is advertised by Tata Sons and the latter possesses 31.90 percent in it. Tata Chemicals holds around 10,000 shares of Tata Sons. This is a prospective value unlocking chance and an opportunity to obtain indirect exposure to Tata Sons. In general, the chemical room is going through a rough spot. So, the valuations were quite appealing,” Devarsh Vakil, Replacement Head of Retail Research at HDFC Stocks.

“The supply has seen a really strong acquiring activity to hit its all-time high trajectory. The advantage energy can enhance better,” stated Rajesh Palviya, Head Technical Research at Axis Stocks.

“There are some assumptions in the marketplace concerning Tata Sons getting provided. If that occurs, after that it would be a favorable advancement for the noted Tata Group entities, including Tata Chemicals. But, do not hurry and purchase whatever levels. Those holding Tata Chemicals shares can continue with their placements, expecting the ultimate listing of Tata Sons,” said G Chokkalingam, founder and MD of Equinomics Study.

“Regardless of poor third-quarter (Q3 FY24) results, potential listing news of Tata Sons is profiting Tata Chemicals the most. It has actually led to a solid rally with following resistance at Rs 1,473. However, capitalists must reserve earnings at present degrees as supply is really overbought and an everyday close below support of Rs 1,140 can cause Rs 930 in the close to term,” said AR Ramachandran from Tips2trades.

The Tata Group-owned company’s combined internet profit dropped 60 percent from the previous year to Rs 158 crore in the three months ended December 31.

The stock saw heavy trading volumes today as around 27.93 lakh shares were seen transforming hands on BSE. The figure was greater than the two-week average quantity of 2.99 lakh shares. Turnover on the counter came at Rs 359.27 crore, commanding a market capitalisation of Rs 33,438.04 crore.

Tata Sons is the holding firm of the Tata Group, majorly owned by Dorabji Tata Trust (28 per cent) and Ratan Tata Depend On (24 per cent). Both Tata Motors and Tata Chemicals have around 3 percent risk in the holding company. Tata Power and Indian Hotels own 2 per cent and 1 percent, specifically.

In a different growth, Fitch Ratings has actually revised its overview on Tata Chemicals’ long-term foreign-currency Issuer default rating (IDR) to ‘Secure’ from ‘Favorable’ and verified the score at ‘BB+’.

Since December 2023, promoters held a 37.98 percent risk in Tata Chemicals.

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