Shares of Tata Chemicals declined 3% to their day's low of Rs 625 on the BSE on Friday after Kenya President William Ruto said on Thursday that he had ordered the company to stop its operations in the country, stating that its presence had failed to benefit Kenya.
Ruto said the Kenyan government would bring in two new companies to take over Tata Chemicals’ operations. In late July, Tata Chemicals had said the Kenyan government ordered its unit, Tata Chemicals Magadi Limited, to suspend operations at the Magadi Soda factory and halted exports of soda ash.
