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Tata Global Beverages advanced 3.14% to Rs 174.20 at 10:59 IST on BSE, extending recent gains on reports that the company has decided to sell its stake in various Tata group listed companies to its parent Tata Sons.
Meanwhile, the S&P BSE Sensex was up 68.39 points or 0.22% at 31,815.48.
On the BSE, 5.93 lakh shares were traded on the counter so far as against the average daily volumes of 3.29 lakh shares in the past one quarter. The stock had hit a high of Rs 174.50 so far during the day, which is a 52-week high. The stock hit a low of Rs 169.25 so far during the day. The stock had hit a 52-week low of Rs 114.50 on 15 November 2016.
The stock had outperformed the market over the past one month till 11 July 2017, advancing 9.5% compared with the Sensex's 1.55% rise. The stock had also outperformed the market over the past one quarter, gaining 10.61% as against the Sensex's 6.58% rise.
The scrip had also outperformed the market over the past one year, advancing 26.85% as against the Sensex's 14.91% rise.
The large-cap company has equity capital of Rs 63.11 crore. Face value per share is Rs 1.
Shares of Tata Global Beverages have risen 13.52% in four trading sessions from its close of Rs 153.45 on 6 July 2017.
According to reports, Tata Global Beverages (TGBL) has decided to sell its stake in various Tata group listed companies to its parent, Tata Sons, in the next few months. N Chandrasekaran had taken over charge as chairman of the board early this month.
On consolidated basis, Tata Global Beverages reported net profit of Rs 51.12 crore in Q4 March 2017, compared with net loss of Rs 268.90 crore in Q4 March 2016. Net sales rose 4.7% to Rs 1674.26 crore in Q4 March 2017 over Q4 March 2016.
Tata Global Beverages is a global beverage business; its brands have presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world's second largest tea company. The company focuses on natural beverages and has a stable of innovative regional and global beverage brands, including: Tata Tea, Tetley, Himalayan natural mineral water, Tata Water Plus and Tata Gluco+, Good Earth tea, Grand Coffee and Eight O'clock coffee.
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