Tata Global Beverages announced that Vittaldas Leeladhar (DIN: 02630276), Mallika Srinivasan (DIN: 00037022) and Ranjana Kumar (DIN: 02930881) have ceased to be Directors of Company on completion of their respective First terms as Independent Directors at the close of business hours on 25 August 2019.

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Tata Global Beverages Ltd is up for a third straight session in a row. The stock is quoting at Rs 264.5, up 2.22% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is down around 0.49% on the day, quoting at 10926.15. The Sensex is at 36826.99, down 0.52%. Tata Global Beverages Ltd has dropped around 2.63% in last one month.

Meanwhile, Nifty FMCG index of which Tata Global Beverages Ltd is a constituent, has dropped around 3.11% in last one month and is currently quoting at 28925.35, down 0.14% on the day. The volume in the stock stood at 16.93 lakh shares today, compared to the daily average of 18.96 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 265.95, up 2.15% on the day. Tata Global Beverages Ltd is up 12.72% in last one year as compared to a 3.83% fall in NIFTY and a 8.08% fall in the Nifty FMCG index.

The PE of the stock is 42.26 based on TTM earnings ending March 19.

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Net profit of Tata Global Beverages rose 7.82% to Rs 125.33 crore in the quarter ended June 2019 as against Rs 116.24 crore during the previous quarter ended June 2018. Sales rose 5.24% to Rs 1897.13 crore in the quarter ended June 2019 as against Rs 1802.59 crore during the previous quarter ended June 2018.

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The result was announced after market hours yesterday, 31 July 2019.

Meanwhile, the S&P BSE Sensex was down by 173.42 points or 0.46% to 37,307.83.

On the BSE, 47000 shares were traded in the counter so far compared with average daily volumes of 97000 shares in the past two weeks. The stock had hit a high of Rs 261.30 and a low of Rs 250.20 so far during the day. The stock hit a 52-week high of Rs 277.50 on 27 June 2019 and a 52-week low of Rs 177.50 on 11 February 2019.

Tata Global Beverages said that while profits of international and non-branded businesses were higher, profits in India were lower due to higher commodity costs and increased spends behind brands and lower exceptional items.

The company's board of directors in its meeting held on 31 July 2019 approved entering into binding agreements to acquire the branded tea business of Dhunseri Tea & Industries. The Dhunseri branded tea business currently has the brands Lalghoda and Kalaghoda which are among the leading local brands in Rajasthan, a market dominated by local players. This move is in line with Tata Global Beverages' ambition to grow its branded tea business in India.

Ajoy Misra, Managing Director and CEO of Tata Global Beverages said the company clocked steady revenue and profit growth in Q1 June 2019 and the India business recorded continued value and volume growth.

Tata Global Beverages is a global beverage business with presence in over 40 countries. The company has significant interests in tea, coffee and water and is second largest player in branded tea in the world.

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