Tata Global stock jumps on retail JV with Starbucks

Moneycontrol Bureau

Shares of Tata Global Beverages surged 6% on Tuesday morning as investors gave a thumbs up to its joint venture with Starbucks Coffee Co to set up cafes in India.

On Monday, the Tata group company, which owns Tetley Tea and Eight O'Clock Coffee among many other brands, had signed a 50-50 JV deal with Starbucks, the world's largest coffee retailer. The two companies will initially invest Rs 200 crore each in the company to be called Tata Starbucks Ltd.

The first cafe, which will be named