City
Epaper

Tata Consumer dips 3% after it denies 51% stake buy buzz in Haldiram's

By Lokmat English Desk | Updated: September 7, 2023 13:31 IST

Shares of Tata Consumer Products (TCPL) fell 3 per cent to Rs 853.85 on the BSE in Thursday’s intra-day ...

Open in App

Shares of Tata Consumer Products (TCPL) fell 3 per cent to Rs 853.85 on the BSE in Thursday’s intra-day trade after the company denied news reports that it was in talks to buy a stake in Indian food snack chain Haldiram’s. The stock surged over 4 per cent in the previous session following the report about interest in Halidram’s.On clarification on news report, TCPL said that the company is not in negotiations as reported. "However, the company evaluates various strategic opportunities for growth and expansion of the business of the company, on an ongoing basis. The company will make appropriate announcements, as and when any such requirement arises," Tata Consumer said.

Meanwhile, in the past six months, the stock of TCPL has outperformed the market by surging 19 per cent as compared to 9 per cent rise in the S&P BSE Sensex. However, in the past one year, it has underperformed by gaining 4 per cent as against 11 per cent rally in the benchmark index.TCPL is engaged in the trading, production, and distribution of consumer products mainly tea, coffee, water, salt, pulses, spices, snacks, ready-to-eat packaged foods products etc. collectively termed as branded business. The Group has branded business mainly in India, Europe, US, Canada and Australia. The non-branded plantation business is in India and tea and coffee extraction businesses are mainly in India, Vietnam and the US.

Tags: HaldiramTata consumers
Open in App

Related Stories

Social ViralAgra: Speeding Car Loses Control and Crashes Into Haldiram Restaurant in Sanjay Place (Watch Video)

CricketAdani Group, Haldiram in fray to buy Women's IPL team

InternationalEquity indices extend gains & open positive; Sensex up over 350 pts

InternationalEquities open a tad low, Sensex declines over 100 pts

InternationalEquity indices a tad down in early trade

Business Realted Stories

BusinessMexico, US to work to improve trade balance: Sheinbaum

BusinessAdani Group's expertise crucial in operationalising Vizhinjam Port project: Former VISL MD

BusinessOver 3,100 international traders from 111 countries participated in Iran Expo 2025

BusinessIndia to host Global Media Dialogue tomorrow, over 60 countries to attend

BusinessPakistan's FBR tax shortfall swells to Rs 833 billion