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Tata Chemicals shares fall 10% after last week's rally. Here's why there has been a U-turn

Tata Chemicals share price declined 10% on Monday. The stock had rallied 36% last week on reports of a likely public offering from Tata Sons.

Updated on: Mar 11, 2024 11:09 AM IST
By HT News Desk
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Tata Chemicals share price: Shares of Tata Chemicals plunged over 10 per cent today (March 11). This comes after it was reported that Tata Sons is not eyeing an initial public offering (IPO_ in the near future. Tata Chemicals stock rallied 36 per cent last week after reports of IPO. But it has now emerged that the conglomerate is considering various avenues to adhere to the Reserve Bank of India's (RBI) norms and not looking for an IPO.

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Tata Chemicals share price: The stock of Tata Chemicals fell 10 per cent on March 11.
Tata Chemicals share price: The stock of Tata Chemicals fell 10 per cent on March 11.

At 9.26 am, Tata Chemicals traded at ₹1,207.45 on the NSE, down 8 per cent from the previous close. In the past one month, the stock has jumped 27 per cent.

Is Tata Sons going for an IPO?

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Tata Sons is required to follow a strict regulatory structure and list on the public market within three years of being notified as it is registered as a "credit information company" with the RBI and classified as an "upper layer" NBFC.

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Tata Sons' market capitalisation was earlier estimated to be around ₹8 lakh crore by Spark, excluding holdco discounts and optionalities.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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