Tata Global Beverages trades jubilantly on the bourses

Tata Global Beverages is currently trading at Rs. 215.60, up by 16.85 points or 8.48% from its previous closing of Rs. 198.75 on the BSE.

The scrip opened at Rs. 206.40 and has touched a high and low of Rs. 219.85 and Rs. 197.35 respectively. So far 2331487 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 284.70 on 03-Jul-2018 and a 52 week low of Rs. 177.50 on 11-Feb-2019.

Last one week high and low of the scrip stood at Rs. 219.85 and Rs. 197.35 respectively. The current market cap of the company is Rs. 12688.86 crore.

The promoters holding in the company stood at 34.45%, while Institutions and Non-Institutions held 39.04% and 26.50% respectively.

Tata group has decided to transfer of its branded food business from Tata Chemicals (TCL) to Tata Global Beverages in an all shares deal that will create an over Rs 9,000 crore giant. The company will buy the business of selling edible salt, spices, and lentils and give shares in return to TCL. The company will rename itself after the deal as Tata Consumer Products.

The Boards of Directors of the company and Tata Chemicals, at their respective meetings on May 15, approved the de-merger of the consumer products business of Tata Chemicals into the company. Each shareholder of TCL will get 1.14 new equity shares of the company for every one equity share held.

Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.

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