Tata Global slumps on earnings miss, dilution concerns

Reuters Market Eye - Shares in Tata Global Beverages Ltd fall 6 percent after reporting on Tuesday July-September operating profit of 1.6 billion indian rupees lagging some analyst estimates.

Dealers also cite equity dilution concerns after the company announced a merger of Mount Everest Mineral Water Ltd with itself, which is also seen weighing on the stock.

The company on Tuesday announced a swap ratio of 3 shares of Tata Global for every 4 shares of Mount Everest Mineral Water.

Shares in Mount Everest Mineral Water are down 4.3 percent.

($1 = 63.6375 rupees)

(Reporting by Abhishek Vishnoi)