Shares of Tata Chemicals gained over 12 per cent on Wednesday after the company posted strong first-quarter earnings.

Shares of Tata Chemicals opened on a bullish note at ₹999.95, then gained further to close at ₹1,072.25 , registering a jump of 12.04% per cent over its previous close.

Tata Chemicals on Tuesday reported an 86.25 per cent increase in consolidated net profit to ₹637 crore during the quarter ending June 30.

The company's net profit stood at ₹342 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing.

The revenue from operations rose 34.15 per cent during the quarter under review at ₹3,995 crore, compared to ₹2,978 crore in the same period of last fiscal.

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