Tata Global Beverages trades in bullish mood
On YTD basis, the stock advanced nearly 60% till date, whereas benchmark index Sensex has gained 18% during the same period.
The company is reviewing plantation operations of its two associates Amalgamated Plantation (APPL) and Kanan Devan Hill Plantations, to make them profitable, reported a leading news agency.
Recently, the company had announced that it will launch its premium natural mineral water brand ‘Himalayan’ in the US market.
The stock surged by over 3.50% at Rs 201 per share on BSE at 1149 hours. It opened at Rs 196 per share. The stock also witnessed a spurt in volume by more than 1.35 times on Monday. It attracted a total traded volume of 92,11,593 shares and traded value of Rs 18,400.16 lakh on NSE at 1152 hours.
Tata Global Beverages consolidated revenue for Q1FY18 came in at Rs 1,704.4 crore, registering 1.8% yoy decline. This was led by 15.8% yoy decrease in revenue in the coffee segment. The PAT for the quarter came in at Rs 141.8 crore, yoy increase of 18.6%. This was due to 50% yoy decline in interest expenses.
Tata Global Beverages Ltd :-
BSE 200.45 5.95 (3.06%)
NSE 200.70 6.30 (3.24%)