Tata Global Beverages gains as its JV planning to expand footprint in 2 new cities

Tata Global Beverages is currently trading at Rs. 258.45, up by 2.40 points or 0.94% from its previous closing of Rs. 256.05 on the BSE.

The scrip opened at Rs. 255.00 and has touched a high and low of Rs. 260.20 and Rs. 253.15 respectively. So far 84040 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 277.50 on 27-Jun-2019 and a 52 week low of Rs. 177.50 on 11-Feb-2019.

Last one week high and low of the scrip stood at Rs. 266.90 and Rs. 250.55 respectively. The current market cap of the company is Rs. 16264.21 crore.

The promoters holding in the company stood at 34.45%, while Institutions and Non-Institutions held 39.04% and 26.50% respectively.

Tata Starbucks, a 50:50 joint venture (JV) between Tata Global Beverages and Starbucks Coffee of the US is planning to expand its footprint in two new cities by end of 2019, taking the total count to 10.

Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.