Tata Consumer Share Price: Tata Consumer, which owns UK tea maker Tetley, currently has an India relationship with Starbucks. The 14-day relative strength index (RSI) for the counter was at 65.29. Oversold is defined as a number less than 30, while overbought is defined as a value more than 70.
Tata Consumer Products Ltd shares jumped on Wednesday, trading around a one-year high. The stock rose 4.40 percent to an intraday high of Rs 883. The stock was barely 0.10 percent away from its 52-week high of Rs 883.85, set on July 26 of this year, at this pricing. It ultimately closed at Rs 879.90, up 4.04 percent. Today’s significant rise followed news that the Tata Group’s consumer unit is in discussions to acquire a share in Haldiram.
According to Reuters, Tata Consumer is in discussions to purchase at least 51% of popular food company Haldiram but is not satisfied with the $10 billion price asked. The news agency also stated that Haldiram is in talks with private equity groups, including Bain Capital, about selling a 10% interest.
With regard to the agency news, the stock markets (BSE and NSE) have requested clarification from Tata Consumer. In response, the corporation stated that it is not in talks, as reported in the linked news piece.
“This article has absolutely no bearing on the company.” We’d like to point out that the company is constantly looking at new strategic opportunities for business growth and expansion. According to our duties under the Sebi (LODR) Regulations, 2015, we shall provide the required notifications as soon as such a need materializes.
According to Euromonitor International, Haldiram controls over 13% of India’s $6.2 billion snack industry. Separately, Pepsi, which is well-known for its Lay’s chips, controls roughly 13% of the market.
Haldiram’s snacks are now available in other countries such as Singapore and the United States. The firm has over 150 restaurants that provide local cuisine, desserts, and Western cuisine.
Tata Consumer, which owns the UK tea maker Tetley, now has cooperation with Starbucks in India.
The Tata Group stock was recently seen trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs). The stock has a 14-day relative strength index (RSI) of 65.29. Oversold is defined as a number less than 30, while overbought is defined as a value more than 70. The price-to-equity (P/E) ratio of the company is 78.36, and the price-to-book (P/B) ratio is 6.16.
Trendline statistics reveal that the stock has an analyst target price of Rs 932, implying a 6% potential upside. It has a one-year beta of 0.93, suggesting that the stock is volatile.
Meanwhile, Indian market indexes rose for the fourth consecutive day, led by increases in consumer, pharmaceutical, and energy firms. The 30-share BSE Sensex gained 100 points, or 0.15 percent, to close at Rs 65,881, while the wider NSE Nifty gained 36 points, or 0.18 percent, to close at 19,611.