Tata Chem gains 4% on fertiliser biz sale buzz

Mumbai : Shares of Tata Chemicals rose by nearly 4% to end at at Rs 436.75 on the BSE amid reports that the company is mulling to sell its fertiliser business. “Tata Chemicals gained more than 5 per cent intra-day on market reports that the group is willing to hive off and sell its fertiliser business,” said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd. According to reports, Tata Chemicals has asked Kotak Mahindra Bank to help find strategic buyers for the business at a valuation of close to a billion dollars.