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Tata Global Beverages rises on entering into LOI with Tata Steel’s arm

15 Nov 2018 Evaluate

Tata Global Beverages is currently trading at Rs. 221.30, up by 3.35 points or 1.54% from its previous closing of Rs. 217.95 on the BSE.

The scrip opened at Rs. 217.10 and has touched a high and low of Rs. 222.25 and Rs. 216.80 respectively. So far 60547 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 328.80 on 15-Jan-2018 and a 52 week low of Rs. 205.75 on 31-Oct-2018.

Last one week high and low of the scrip stood at Rs. 222.25 and Rs. 209.00 respectively. The current market cap of the company is Rs. 13982.68 crore.

The promoters holding in the company stood at 35.00%, while Institutions and Non-Institutions held 38.14% and 26.86% respectively.

Tata Global Beverages has entered into a ‘Letter of Intent’ (LOI) with Tata Steel Special Economic Zone, a wholly-owned subsidiary of Tata Steel, for setting up a Tea Packaging Unit in Gopalpur Industrial Park, Orissa, which will be used for the operation of manufacturing and storage of Tea and also will be used as Warehouse of all products of the Company, including its subsidiaries, associates and joint-venture companies. The above LOI was exchanged on November 12, 2018 during the ‘Make in Orissa’ conclave in Bhubaneshwar, Orissa.

The estimated scalable capacity of the new unit is expected to be 36 million kgs per annum and it would be operational by 2020, post all statutory and regulatory clearances. The aggregate investments by both the companies for setting up this new Unit are expected to be around Rs 100 crore over a period of time.

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.

Tata Consumer Produc Share Price

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