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Shares of Tata Global Beverages Ltd jumped as much as 5.5 per cent to Rs 235.15, their biggest intraday percentage gain in nearly 10 weeks. More than 3.1 million shares traded vs 30-day avg of 2.9 million shares.
Tata Global Beverages has restructured its international operations by merging its businesses in Canada, America and Australia (CAA) and the UK, Europe, Middle East and Africa (EMEA) regions into a single unit. The Tata Group firm has also exited non-core and sub-scale markets to focus on core markets.
“In Russia, the company has restructured its operating model, it has divested its stake in plantations in Sri Lanka, and exited its joint venture business in China,” TGBL said in a regulatory filing.
TGBL has restructured its international operations in order to unlock synergies for the business, optimise costs and streamline operations. Tata Global Beverages MD and CEO Ajoy Misra said, “The restructure will help us better focus on core markets and better leverage growth opportunities.”
The company said EMEA and and CAA units have been merged into a single unit called the international business division, with experienced country heads in key markets, reporting into a single head, Adil Ahmad for the division.
The company said it has also identified back office processes in human resources, finance and operations, and outsourced the management of these back office processes to Tata Consultancy Services.
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