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Tata Global Beverages surges on concluding sale of two Russian subsidiaries

06 Nov 2017 Evaluate

Tata Global Beverages is currently trading at Rs. 229.55, up by 4.35 points or 1.93% from its previous closing of Rs. 225.20 on the BSE.

The scrip opened at Rs. 225.70 and has touched a high and low of Rs. 230.35 and Rs. 223.90 respectively. So far 71547 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 231.45 on 01-Nov-2017 and a 52 week low of Rs. 114.50 on 15-Nov-2016.

Last one week high and low of the scrip stood at Rs. 231.45 and Rs. 222.75 respectively. The current market cap of the company is Rs. 14213.04 crore.

The promoters holding in the company stood at 35.61%, while Institutions and Non-Institutions held 34.36% and 30.03% respectively.

Tata Global Beverages (TGBL) has completed the sale of two of its subsidiaries in Russia - Sunty LLC and Tea Trade LLC for 375 million roubles (about Rs 41 crore). Pursuant to this, both Sunty LLC and Tea Trade LLC have ceased to be subsidiaries of the company. Earlier in August, the company had announced sale of its business in Russia as part of restructuring operations in that country.

Coffee Pack LLC, a company incorporated in Russia, is the purchaser of Sunty LLC and Skhodnya Grand LLC, a company incorporated in Russia is the buyer of Tea Trade LLC.

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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