Tata Consumer declines for 2nd day

Tata Consumer Products skid 0.81% to Rs 594, extending losses for the second consecutive session.

The stock has declined by 1.43% in two sessions from its recent closing high of Rs 602.65 recorded on 28 December 2020.

In the past one week, the stock has lost 1.87% while the benchmark S&P BSE Sensex rose 2.40% during the same period.

On a year-to-date (YTD) basis, however, the stock has zoomed 85.02%, outperformed the Sensex which gained 15.28%.

Meanwhile, credit ratings agency, ICRA, upgraded its rating on the company's long-term instruments to ICRA AAA (Stable outlook) from ICRA AA+ (Stable outlook) and reaffirmed the rating for the short-term instruments at ICRA A1+.

Tata Consumer Products is a food and beverages (F&B) focused consumer products company. The company's portfolio of products includes tea, coffee, water, salt, pulses, spices, and ready-to-cook offerings.

The company reported a 33% rise in consolidated net profit to Rs 257.06 crore on 18.5% increase in net sales to Rs 2,781.34 crore in Q2 FY21 over Q2 FY20.

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