The rating agency affirmed the Ba1 corporate family rating (CFR) of Tata Chemicals Ltd (TCL). The rating outlook remains stable, it said in a statement
Tata Chem in talks to buy Archean’s salt business
January 12, 2021
₹450-crore deal may offer reprieve to debt-laden diversified group
Tata Chemicals is in initial talks to acquire the troubled industrial salt unit of Archean Group in a deal that could value the business at ₹450 crore.
The potential deal could offer a reprieve to Chennai-based Archean, which has been struggling to service its debt obligations for the past two years, sources said. Founded in 1982, it has businesses spanning from industrial salt and fertilizers to mining.
Archean has an integrated manufacturing plant at Hajipir near the Rann of Kutch, Gujarat, with 3 million tonne of salt production capacity. The industrial salt is used as an intermediary in the manufacturing of detergents, textile dyes, plastic products and glass.
Bulls enter New Year with rollover of long positions in January 2021 series
Rollover stood at 75.94 percent, which is in-line with its quarterly average of 75.59 percent. The overall data indicate that the longs are still in the system and some more steam left on the upside. January 01, 2021 / 09:18 AM IST
Bulls are reluctant to give up and as a result, Nifty50 touched a record high of the 14,000 mark. The last series of 2020 started with long positions in the system and the Bulls kept on adding fresh longs.
The uptrend is so strong that most of the intraday dips were getting bought quickly. Barring a sharp sell-off on 21 December, we haven’t noticed the existence of Bears in this market.