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Tata Chemicals gains on acquisition buzz

Wednesday 24th Aug 2011 1350

New Delhi : Tata Chemicals is trading higher by 1.4% at Rs 354 after the company acquired a stake in EPM Mining Ventures, Canada. Tata Chemical's wholly owned subsidiary, Gusiute Holdings has entered into an agreement with EPM Mining Ventures. EPM will issue one unit to Gusiute Holdings at a price of Canadian $16,000,000, the company said in a press release.

The stock opened at Rs 349 and touched a high of Rs 356 in intra-day deals. A combined 26,000 shares have changed hands on the BSE till 1045 hours.

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