Tata Global Set For Longest Winning Streak In Five Years
Tata Global Beverages Ltd. is set to end November with gains, rising for the sixth straight month. That will be the longest winning streak for the world’s second-largest maker of branded tea.
The stock gained 95 percent during the period with its market capitalisation nearly doubling to over Rs 18,200 crore.
Kotak Institutional Equities, which has an ‘add’ rating on the stock, said the domestic tea segment and better cost management has driven the Tata Group company’s business. Shares hit the brokerage’s target of Rs 285 yesterday.
Morgan Stanley isn’t that bullish. While the restructuring of its loss-making business is positive, there’s a limited potential for an upturn in its core business, the investment bank said.