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Last Updated : May 17, 2019 04:39 PM IST | Source: Moneycontrol.com

Buy Tata Global Beverages; target of Rs 250: ICICI Direct

ICICI Direct is bullish on Tata Global Beverages has recommended buy rating on the stock with a target price of Rs 250 in its research report dated May 16, 2019.

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ICICI Direct's research report on Tata Global Beverages


Tata Group has announced demerger of Tata Chemicals’ (TCL) consumers business into Tata Global Beverages (TGBL). As part of the deal, TCL’s consumer business, which includes sourcing, packaging, marketing, distribution & sales of its Tata Salt, pulses & spices under Sampann brand, snacks business and detergent powder, Tata Dx, will be transferred to TGBL.


Outlook


We value consolidated branded business at 3x P/Sales, international business at 1x P/sales & Starbucks JV at 2x P/Sales on FY21E revenues, respectively, with a revised target price of Rs 250/ share.


For all recommendations report, click here


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First Published on May 17, 2019 04:39 pm
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