Tata Global gains ahead of opening of Starbucks outlet

The company will open its first store on October 19 at Elphinstone Building, Horniman Circle, Mumbai.

Tata Global Beverages is trading higher by 3% at Rs 164.30 ahead of the opening of first Starbucks outlet by its joint venture in Mumbai on Friday.

“Coffee chain operator Starbucks will open its door for the Indian consumer on October 19 at Elphinstone Building, Horniman Circle, Mumbai,” the media report suggests.

“On October 19, Tata Starbucks Ltd a 50:50 joint venture between Tata Global Beverages and Starbucks will first hold an editors conference followed by sampling of its products by the media and consumers,” added report. Tata Group Company engaged in tea and coffee business has outperformed the market by rising 24.5% since September 27 as compared to less than 1% rise in benchmark Sensex.

The stock opened at Rs 160 and has seen a combined 2.01 million shares have changing hands on the counter so far on both the exchanges.