Tata Consumer Products surges on eyeing high growth in domestic market
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Tata Consumer Products is currently trading at Rs. 810.65, up by 18.95 points or 2.39% from its previous closing of Rs. 791.70 on the BSE.
The scrip opened at Rs. 790.05 and has touched a high and low of Rs. 812.65 and Rs. 790.05 respectively. So far 37445 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 861.35 on 14-Sep-2022 and a 52 week low of Rs. 685.00 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 812.65 and Rs. 783.65 respectively. The current market cap of the company is Rs. 75124.53 crore.
The promoters holding in the company stood at 34.44%, while Institutions and Non-Institutions held 40.90% and 24.65% respectively.
Tata Consumer Products (TCPL) is eyeing high growth in the domestic market and the company is looking at new categories and acquisition opportunities. In international markets, TCPL aims to strengthen its portfolio by expanding its non-black tea business, increasing its presence in the coffee market, and introducing ethnic ready-to-eat and ready-to-cook products.
Last year, TCPL successfully launched 34 products. Currently, TCPL's branded tea contributes 47 per cent to the total revenue, primarily driven by the Indian market, while coffee contributes 11 per cent and is dominated by the international business.
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.
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