The India branded tea business clocked a growth of 7 percent in volume and 6 percent in value terms during the quarter, the company said.
Tata Global said the demerger of consumer products business from Tata Chemicals and its vesting with it will enable the company to expand its presence in the FMCG sector in India and abroad.
Now Tata Group has 4 weeks to appeal before the Supreme Court.
A break below 10,637 levels will indicate a resumption of the downtrend in the market.
If the index breaks below 10,782 then further decline towards 11,580 and 10,450 levels is possible. Maximum open interest for Put is seen at strike price 10,800
Key risk: Long gestation period for new FMCG categories to fructify
Tata Global Beverage has reported a consolidated total income from operations of Rs 1,802.59 crore and a net profit of Rs 116.24 crore for the quarter ended Jun-2018
"We recommend buying Tata Global at current market price of Rs 294 for the upside target of Rs 315 and keep a stop loss placed below Rs 278," says Nandish Shah, Technical & Derivatives Analyst at HDFC Securities.
Prakash Gaba of prakashgaba.com recommends buying Hindustan Unilever with target at Rs1480 and stop loss at Rs 1452 and Tata Global Beverage with target at Rs 295 and stop loss at Rs 286.
"The immediate support is seen around 10,451 (100DMA) and 10,400 levels. According to daily Pivot charts, the key support level is placed at 10,509, followed by 10,470. If the index starts moving upwards, key resistance levels to watch out for are 10,574 and 10,600," says Abhishek Mondal, Research Analyst at Guiness Securities.
It looks like the worst is over for Indian markets which is reasonably priced; however, stock picking has become difficult. Going forward, if we look at what is happening across the globe and back home, most investors have moderated their return expectations from the market, indicated Porinju Veliyath of Equity Intelligence India.