of Tata Global Beverages Limited slipped 3pc intraday on
Wednesday despite the company reported strong numbers.
the March quarter results, the company’s consolidated operational revenue increased
by 5.2pc to Rs.1,775crore in Q4FY19 as against Rs.1,688-Crore, a year ago
period. Profit before tax was at Rs.153crore as against Rs.128-crore, up by
19.6pc. However, the company’s Q4’19 Profit after tax was at Rs.94-crore, down
by 18.1pc, as against Rs.115-crore, Y-o-Y.
company further informed that it has inked an agreement to acquire the branded
tea business of Dhunseri Tea and Industries Limited, for about Rs.101crore. Meantime, the company’s board also announced a
at the stock of Tata Global Beverages on Wednesday, it seemed that investors are
yet to inspire with these prospects, as the stock was trading very volatile. At
3.00pm, the stock of Tata Global was quoting Rs.207.50 per share, down by 1 percent
on the NSE. The stock touched an intraday high and low for Rs.212 and Rs.200.65
benchmark indices moved significant higher with Sensex at 39,033-level up 468 point
and Nifty hit at 11,709-level up 133 points, before closing.