Mumbai: After delivering 77 per cent returns in last one year, this stock is trading at a record high price. But analysts say it has legs to go the distance and log more gains. This stock has risen 202 per cent in last three years. For year to date, it is already up 22.6 per cent. It scaled a record high of Rs 395.75 on January 15. The stock is Tata Global Beverages. On January 15, Anand Rathi Share & Stock Brokers initiated coverage on the stock with a ‘buy’ rating and a price target of Rs 473, which translates into a 20 per cent upside from current level. “Given the company’s sound fundamentals, strong branded portfolio of products, improving distribution and reach, restructuring initiatives, expected revenue and cost synergies from the merger with the consumer business of TCL (Tata Coffee Ltd) and favourable macro traits, we believe the company is well positioned for long-term growth,” Anand Rathi analysts said. Tata Global Beverages is the world’s second largest branded tea company. Together with its subsidiaries, the company is engaged in the trading, production and distribution of tea, coffee and water. TGBL houses a strong portfolio of brands including Tata Tea,… Read full this story
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