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Tata Consumer Products’ (TCPL’s) — formerly Tata Global Beverages — share price surged 3.2 per cent after the company announced the acquisition of PepsiCo’s stake in NourishCo Beverages.
NourishCo, which owns ready-to-drink beverage brands like Himalayan (mineral water) and Tata Gluco Plus (on-the-go re-hydration solution), is a 50:50 joint venture between TCPL and PepsiCo.
While the move is in line with TCPL’s focus on expanding its consumer business, adding to its growth levers, and extending synergy benefits, analysts say it comes at a time when TCPL is expected to grow at a healthy pace, indicating strong upside potential for its stock.
Motilal Oswal
