Tata Consumer Products jumps on consolidating business by merging various companies
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Tata Consumer Products is currently trading at Rs. 807.75, up by 19.70 points or 2.50% from its previous closing of Rs. 788.05 on the BSE.
The scrip opened at Rs. 791.00 and has touched a high and low of Rs. 809.00 and Rs. 789.00 respectively. So far 84311 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 889.00 on 07-Sep-2021 and a 52 week low of Rs. 614.25 on 07-May-2021.
Last one week high and low of the scrip stood at Rs. 809.00 and Rs. 749.85 respectively. The current market cap of the company is Rs. 74249.42 crore.
The promoters holding in the company stood at 34.72%, while Institutions and Non-Institutions held 39.09% and 26.20% respectively.
Tata Consumer Products (TCPL) is consolidating its business by merging various companies and plans to reduce the number of legal entities to around 23 from the existing 45 after restructuring. This will help Tata Consumer Products in creating focused business verticals and unlock potential synergies between them.
Last week, TCPL had announced the merger of all businesses of Tata Coffee (TCL) with itself as part of a reorganisation plan in line with its strategic priority of unlocking synergies and efficiencies. While the plantation business of TCL will be demerged into TCPL's wholly-owned arm TCPL Beverages & Foods (TBFL), the remaining business of TCL, consisting of its extraction and branded coffee business, will be merged with TCPL.
Tata Consumer Products (formerly known as Tata Global Beverages) is a focused consumer products company uniting the food and beverage interests of the Tata Group under one umbrella.
