Tata Global Beverages fell 2.67% to Rs 169.70 at 14:15 IST on BSE on reports a foreign brokerage maintained underweight rating on the stock.
Meanwhile, the BSE Sensex was up 15.60 points, or 0.06%, to 25,856.81.
On BSE, so far 1.43 lakh shares were traded in the counter, compared with an average volume of 6.12 lakh shares in the past one quarter.
The stock hit a high of Rs 175.80 and a low of Rs 168.50 so far during the day. The stock hit a 52-week high of Rs 177.15 on 10 June 2014. The stock hit a 52-week low of Rs 131.25 on 28 August 2013.
The stock had outperformed the market over the past one month till 2 July 2014, rising 18.28% compared with 4.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.69% as against Sensex's 14.59% rise.
The large-cap company has an equity capital of Rs 61.84 crore. Face value per share is Re 1.
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According to reports, the brokerage believes increased competition in the branded tea business, increased product development expenses, sharp increase in ad-spends and likely sub economic returns on the cash that the company has on its books near term may limit stock performance.
On a consolidated basis, Tata Global Beverages net profit fell 27.63% to Rs 69.30 crore on 3.25% increase in total income to Rs 1926.15 crore in Q4 March 2014 over Q4 March 2013.
Tata Global Beverages is a global beverage business. The company has significant interests in tea, coffee and water and is the world's second largest tea company.
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