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Manu Seth, Tata Chemicals MD, resigns

Indian chemicals and fertilisers firm Tata Chemicals Limited said on Wednesday that its managing director Manu Seth has resigned.

It did not give reasons.

"Till his successor is announced ... vice-chairman R. Gopalakrishnan will supervise the company's operations," the company said in a statement.

Last week the company announced it made a net loss of Rs 37.6 million for the first quarter ended June 30 against a profit of Rs 65.6 million in the year-ago period.

Tata Chemicals shares closed Rs 0.05 higher at Rs 38.25 on Wednesday, off a calendar 2000 low of Rs 37.50 hit on Monday following the results.

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