Tata Global Beverages up 5% on restructuring of international operations

Shares of Tata Global Beverages (TGBL) was up 5% to Rs 235 on the BSE in intra-day trade after the company said it has restructured its international operations in order to unlock synergies for the business, optimize costs and streamline operations.

“The company has restructured its international operations by merging its businesses in Canada, America and Australia (CAA) and the UK, Europe, West Asia and Africa (EMEA) regions into a single unit called the International Business Division”, TGBL said in a regulatory filing.

The Tata Group firm has also exited non-core and sub-scale markets to focus on core markets. In Russia, the company has restructured its operating model, it has divested its stake in plantations in Sri Lanka, and exited its joint venture business in China, it added.

The company said it has also identified back office processes in human resources, finance and operations, and outsourced the management of these back office processes to Tata Consultancy Services (TCS).

At 10:47 am; Tata Global Beverages was trading 4% higher at Rs 232 on the BSE, as compared to 0.69% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 4.1 million equity shares changed hands on the NSE and BSE so far.