Reuters Market Eye - Shares in Tata Global Beverages Ltd gain after Deutsche Bank starts coverage on the company with a "buy" rating and a target price of 200 rupees.
Deutsche touts Tata Global as a "turnaround story," saying EBITDA margins have bottomed out and current share prices do not properly reflect true value.
Tata Global produces tea and also runs retail operations, including a joint venture in India with Starbucks Corp .
Tata Global Beverages shares were up 2.6 percent to 154.40 rupees as of 1:22 p.m.
(Reporting by Indulal PM)
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