Tata Global Beverages shares gain; Deutsche Bank starts with 'buy'

Written by Reuters | Updated: Apr 17 2014, 19:27pm hrs
Shares in Tata Global Beverages Ltd gain 1.6 percent to 152.95 rupees after Deutsche Bank starts coverage on the company with a 'buy' rating and a target price of 200 rupees.

Deutsche touts Tata Global as a turnaround story," saying EBITDA margins have bottomed out and current share prices do not properly reflect true value.

Tata Global produces tea and also runs retail operations, including a joint venture in India with Starbucks Corp.