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Our Bureau

Chennai , May 29

Tuticorin Alkali Chemicals & Fertilisers Ltd has informed the BSE that it intends to merge itself with its parent company, Southern Petrochemical Industries Corporation. A meeting of the Board of Directors of the company will be held on May 30, 2006, to consider the proposal.

TAC hit the upper circuit today closing at Rs 14.38. Bid quantity was 6,950 shares while only 1,500 shares changed hands today.

The company makes ammonium chloride, a nitrogenous fertiliser, and soda ash. SPIC holds a 45.15 per cent stake in the company.

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