Tata Global Beverages hits Rs 200-mark for the first time

NEW DELHI: Shares of Tata Global Beverages hit Rs 200 for the first time ever on Monday. On a year-to-date basis, shares of the company has advanced nearly 60 per cent till date, whereas benchmark BSE Sensex has gained 18 per cent during the same period.

The company is reviewing plantation operations of its two associates - Amalgamated Plantation Private Ltd (APPL) and Kanan Devan Hill Plantations Ltd - to make them profitable, according to reports.

Tata Global Beverages recently also announced that it will launch its premium natural mineral water brand ‘Himalayan’ in the US market. Himalayan is currently available in India and Singapore.

For the quarter ended June 30, 2017, the company reported 13.20 per cent YoY rise in Q1FY18 net profit. Improved operating performance, higher exceptional income and lower losses from its JV associates saw the company net profit jump to Rs 142 crore during April-June 2017 from Rs 126.29 crore in the corresponding period last year.

Net revenues for the first quarter stood at Rs 1,718.76 crore, down marginally from Rs 1,756 crore in the comparable quarter last year.

The scrip was trading 3.01 per cent up at Rs 200.35 around 10.35 am (IST). Shares of the company opened at Rs 196 and touched a high and low of Rs 202.30 and Rs 194.30, respectively, on Monday. It however, closed the day 0.64 per cent higher at Rs 195.75 on BSE.