The shares saw a lukewarm response to the restructuring.
Moneycontrol News
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Moneycontrol News
Shares of Tata Global Beverages, a unit of Tata Group, climbed about 1.5 percent after the company announced restructuring of its overseas operations.
The company said it is consolidating its businesses in Canada, America and Australia (CAA) and the UK, Europe, Middle East and Africa (EMEA) into a single entity.
The company also said it is restructuring its operating model in Russia, and exiting its joint ventures (JVs) in China and divesting its holdings in plantations in Sri Lanka.
Also read - Tata Global Beverages restructures overseas operations, exits non-core markets
The shares hit an intraday high of 235.20 on the BSE, up 5.4 percent from the previous close.
At 11:32 hrs, Tata Global Beverage was quoting at Rs 227.05, up 1.70 percent from the previous close.First Published on Sep 10, 2018 11:56 am