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Tata Global Beverages shares hit 10-week high on international operations restructuring

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At 12.22 pm, Tata Global Beverages' shares traded at Rs 225.20, rising by 0.87 percent.

Tata Global Beverages shares hit 10-week high on international operations restructuring
Tata Global Beverages Ltd rises as much as 5.5 percent to Rs 235.15 – its biggest intraday percent gain in nearly 10 weeks.
The company engaged in trading, production and distribution of tea, coffee and water, is restructuring its international operations to save costs, boost efficiency.
The company said erstwhile EMEA and CAA (Canada, Australia, and Americas) units will be merged into a single unit called International Business Division.
It also said that it has restructured operating model in Russia, divested its stake in plantations in Sri Lanka, and exited its JV business in China.
More than 3.1 million shares traded vs 30-day average of 2.9 million shares. At 12.22 pm, shares traded at Rs 225.20, rising by 0.87 percent.
Meanwhile, the BSE Sensex hovered just above the 38,000 mark, falling by nearly 380 points or by over just about a percent to 38,010 at 12.23 pm.
The NSE Nifty 50 shed 131 points or 1.13 percent to trade well below the 11,500 mark at 11,458.
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