“In order to facilitate the restructuring, the company's overseas subsidiary has formed a step-down subsidiary, Coffee Trade LLC, in Russia which will take over part of the existing business,” said the company in a BSE filing.
Meanwhile, Tata Global Beverages was trading at Rs 196.75 per share, down by Rs 4.40 or 2.18% as at 1100 hours on Monday, on the BSE. The stock hit an intraday high and low of Rs 202.55 and Rs 192.50, respectively.
The stock attracted a traded volume of 20,04,380 shares and traded value of Rs 3,926.38 lakh on the NSE. The company had hit its 52-week high of Rs 220.20 on September 19, 2017, and 52-week low of Rs 114.25 on November 15, 2016, on the NSE.
Tata Global Beverages Limited is a beverage company engaged in the trading, production and distribution of tea, coffee and water. The company's principal activities include processing and blending of tea, including the manufacture of instant tea.
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