Tata Global Beverages surges on fancy numbers
DSIJ Intelligence / 16 Nov 2016
Tata Global Beverages has opened high on November 16. The shares of the company as at 10.23 am are trading at Rs 124.65, up by 6.49 per cent. The company post market hours had declared its Q2FY17 results.
Tata Global Beverages has opened high on November 16. The shares of the company as at 10.23 am are trading at Rs 124.65, up by 6.49 per cent. The company post market hours had declared its Q2FY17 results. The net profit of Tata Global Beverages stands at Rs 108 crores which has increased by 48 per cent as compared with Q2FY16. The company's total expenses stand at Rs 1463.7 crores in this quarter, which is down by 610 per cent compared to Rs 1558.95 crores in the same quarter of last year.
On the other hand, Tata Global Beverages informed stock exchanges that the company's board has replaced Cyrus Mistry as chairman by a majority vote, making it the second listed group firm after TCS to do so. Soon after the statement was made public, Mistry lashed out, dubbing it an "inaccurate and illegal" decision.
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