Tata Global Beverages has dipped 6% at Rs 146 after reporting a 51% year-on-year (yoy) growth in consolidated profit to Rs 180 crore for the quarter ended September 30, 2013 (Q2) due to exceptional gains of Rs 92 crore. The company had profit of Rs 119 crore in the corresponding year-ago period.
Total income from operations grew by 3.6% to Rs 1,966 from Rs 1,899 crore during the recently concluded quarter.
Meanwhile, the board has approved the proposal of merger of Mount Everest Mineral Water Limited ("MEMW") with the Tata Global Beverages.
The shares holders of MEMW will get 3 fully paid up equity shares of Rs 1 each of Tata Global Beverages for every 4 fully paid up equity shares of Rs 10 each of MEMW.
The stock opened at Rs 155 and hit a low of Rs 141 on the BSE. The counter has seen huge trading activity with a combined nearly 5 million shares have already changed hands till 1000 hours against two week average of sub 3 million shares on BSE and NSE.
Total income from operations grew by 3.6% to Rs 1,966 from Rs 1,899 crore during the recently concluded quarter.
Meanwhile, the board has approved the proposal of merger of Mount Everest Mineral Water Limited ("MEMW") with the Tata Global Beverages.
The shares holders of MEMW will get 3 fully paid up equity shares of Rs 1 each of Tata Global Beverages for every 4 fully paid up equity shares of Rs 10 each of MEMW.
The stock opened at Rs 155 and hit a low of Rs 141 on the BSE. The counter has seen huge trading activity with a combined nearly 5 million shares have already changed hands till 1000 hours against two week average of sub 3 million shares on BSE and NSE.