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LIC reduces 2.14% stake in Tata Global Beverages, sells 1.35 crore shares

Shares of TGBL were trading at Rs 175 apiece, down 1.02 per cent, on BSE

Press Trust of India  |  New Delhi 

LIC reduces 2.14% stake in Tata Global Beverages, sells 1.35 crore shares

(LIC) has reduced its stake in by 2.14 per cent, selling 1.35 crore shares in the market.

The public sector insurer, which had 9.85 per cent stake earlier, brought down its shareholding in the company to 7.70 per cent by selling shares between July 20, 2016, and July 4, 2017, (TGBL) said in a filing to BSE.


TGBL's tea brand includes Tata Tea, Tetley, Good Earth Teas, Vitax, teapigs and JEMCA.

It is the world's second-largest manufacturer and distributor of tea with significant brand presence in over 40 countries across Asia, Europe, North America, the Middle East, Africa and Australia.

In coffee segment, it has brands as Eight O'Clock and Grand. The Tata group firm also operates a coffee chain with Starbucks in India in a 50:50 joint venture.

Shares of TGBL were trading at Rs 175 apiece, down 1.02 per cent, on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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