Tata Chemicals Ltd (BSE:500770, NSE: TATACHEM) has fallen on Friday trade as sales revenue for Q4FY18 fell to Rs 2555.08 cr from Rs 2591.59 cr last year while net profit rose to Rs 1210.19 cr as against Rs 343 cr last year.
Tata Chemicals shares fell 3.30% to Rs 718.70 much below the recent high of 775.65 recorded on 11 May.
For FY18, the company reported fall in revenue to RS 10345.36 cr as against Rs 10680 cr the previous year. Profit rose to Rs 2702 .49 cr from Rs 1234.10 cr.
It is trading at a PE of 34.61 indicating moderate valuation by market. On technical charts RSI of 78 indicates bullishness, ADX of 21 indicates range bound trade and MACD line has witnessed a bullish crossover.