Shares of Tata Global Beverages Ltd (TGBL) ended with nearly 4 per cent gains today after the company reported 48.19 per cent increase in consolidated net profit for the September quarter.
After surging 7 per cent to Rs 125.25 on BSE in intra-day trade, shares of the company finally ended at Rs 121.30, up 3.63 per cent.
At NSE, shares of the company rose by 3.67 per cent to close at Rs 121.30.
Led by the rise in the stock price, the company's market valuation went up by Rs 268.6 crore to Rs 7,655.60 crore.
In terms of volume, 9.50 lakh shares of the company were traded on BSE and over 47 lakh shares changed hands at NSE during the day.
Tata Global Beverage Ltd (TGBL) yesterday reported 48.19 per cent increase in consolidated net profit at Rs 108.14 crore for the quarter ended September, riding on lower commodity costs and lower spends on new initiatives.
The company had posted a net profit of Rs 72.97 crore in July-September quarter a year ago.
TGBL's consolidated total income was down 2.60 per cent to Rs 1,625.97 during the quarter under review as against Rs 1,669.45 crore of the corresponding quarter of the previous fiscal.
Meanwhile, in a major escalation of boardroom battle at Tata Group, Cyrus Mistry was yesterday ousted as chairman of Tata Global Beverages by a majority vote by board members, a move that Mistry slammed as illegal and inaccurate representation of board proceedings.
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