Tata Global Beverages stock slips 3% post Results.

Shares of Tata Global Beverages Limited slipped 3pc intraday on Wednesday despite the company reported strong numbers.

Seeing 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.

The 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 250pc dividend.

Looking 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 respectively

Meantime, 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.