Tata Global Beverage may settle around Rs 115- 120, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "In the near-term Tata Global Beverages should stop at about Rs 110 because if one sees the roadmap lined up by the JV, the first store will be operational by August-September. So probably for next 6-7 months there won't be any addition to the performance of the company on that account."
He further added, "Going forward FY13 will take time to ramp up the outlets, maybe one has to see if by FY13 if they do that at about maybe 50 outlets or 50 Starbucks cafes, that will be giving more upside from here on. But for the time being in near-term I don't think that stock can really move past Rs 115- 120."
