Tata Global gains as Starbucks sees strong growth in India

Tata Global Beverages rose 1.77% to Rs 143.85 at 13:36 IST on BSE after the company's joint venture firm, Starbucks, registered a record growth in India.

Meanwhile, the BSE Sensex was up 8.51 points, or 0.04%, to 21,748.60.

On BSE, so far 3.39 lakh shares were traded in the counter, compared with an average volume of 3.51 lakh shares in the past one quarter.

The stock hit a high of Rs 145.80 and a low of Rs 142.50 so far during the day. The stock hit a 52-week high of Rs 170.20 on 3 November 2013. The stock hit a 52-week low of Rs 122 on 26 March 2013.

The stock had underperformed the market over the past one month till 20 March 2014, rising 0.18% compared with the Sensex's 5.86% rise. The scrip had also underperformed the market in past one quarter, falling 7.70% as against Sensex's 3.13% rise.

The mid-cap company has an equity capital of Rs 61.84 crore. Face value per share is Re 1.

The US-based coffee chain Starbucks reportedly said India is the fastest growing market in its history. It grew to 40 stores in 17 months in India, with first outlet launch in Mumbai in October 2012.

Starbucks, which had entered an equal joint venture with Tata Global Beverages, opened its first outlet in Mumbai in October 2012.

Tata Starbucks currently has presence in Mumbai, Delhi, Pune and Bangalore and has its coffee plantations in the Coorg area of Karnataka. Starbucks globally operates over 20,000 stores across 64 countries, serving over 70 million customers per week.

On a consolidated basis, Tata Global Beverages' net profit rose 49% to Rs 120 crore on 9% increase in income from operations to Rs 2081 crore in Q3 December 2013 over Q3 December 2012.

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.

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