Morgan Stanley upgradesTata Global to overweight; stock up

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26 Aug, 2025 12:21

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Tata Global Beverage shares gained more than one percent in morning trade Wednesday after Morgan Stanley upgraded the stock to overweight.

The brokerage house has raised its target price to Rs 164 a share. Morgan Stanley expects the world's second largest tea producer to deliver FY14 earnings growth above industry average.

"We believe that Tata Global Beverages stands to benefit from a cyclical uptrend in its international business (60 percent of sales), driven largely by forex tailwinds – 4 percent favourable impact on revenues in F14e on rupee depreciation. Input tailwinds – 24 percent year-to-date fall in Kenya tea prices as well as 9 percent year-to-date fall in Arabica Coffee prices. Management focus on operating efficiency and cost management," says the Morgan Stanley note to clients.

At 11:14 hours IST, the stock was quoting at Rs 141.50, up 1.11 percent on the Bombay Stock Exchange. It gained more than 6 percent in last five sessions.

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