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Shares of Tata Global Beverages rose 5 per cent in the morning trade on the BSE today amid news reports that the company plans to sell around 20 per cent stake in its international operations to a strategic investor.
Reacting to the move, the scrip jumped by 5 per cent to touch an early high of Rs 99 on the BSE, while on the NSE it went up by 4.88 per cent to touch an early peak of Rs 98.80.
Later, the scrip trimmed some of its gains and was trading at Rs 97.40, up 3.34 per cent from the previous close on the BSE. On the volume front, over 20 lakh shares of the company changed hands in the morning trade.
The company, which has partnerships with beverages groups PepsiCo and Starbucks, expects to conclude a deal in the next few months, the Financial Times reported, quoting the Tata Global Beverages Vice-Chairman, Mr R.K. Krishna Kumar.
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