Tata Global Beverages hits record high of Rs 203

Being in the news for having announced that it will launch its premium natural mineral water brand ‘Himalayan’ in the US market, Tata Global Beverages was trading in a bullish mood with the stocking hitting a record high of Rs 203 during Monday’s trading session. On an YTD basis, the stock advanced nearly 60% till date whereas the benchmark index Sensex has gained 18% during the same period. 
 
The additional news is that the company is reviewing the plantation operations of its two associates, Amalgamated Plantation (APPL) and Kanan Devan Hill Plantations, to make them profitable. Recently, the company’s stock shot up by over 3.50% at Rs 201 per share on the BSE at 1149 hours. It opened at Rs 196 per share. The stock also witnessed a spurt in volume by more than 1.35 times on Monday and attracted a total traded volume of 92,11,593 shares and traded value of Rs 18,400.16 lakhs on the NSE at 1152 hours.
 
Tata Global Beverages’ consolidated revenue for Q1FY18 was Rs 1,704.4 crore, registering 1.8% YoY decline. This was led by 15.8% YoY decrease in revenue in the coffee segment. The PAT for the quarter was Rs 141.8 crore – YoY increase of 18.6%. This was due to 50% YoY decline in interest expenses.