LIC trims stake in Tata Global Beverages to 5.60%

Oct 31, 2013, 08.51 PM IST

The company's total income from operations rose to Rs 1,813.46 crore during the first quarter, as compared to Rs 1,725.10 crore during the same period of previous fiscal.

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LIC trims stake in Tata Global Beverages to 5.60%

The company's total income from operations rose to Rs 1,813.46 crore during the first quarter, as compared to Rs 1,725.10 crore during the same period of previous fiscal.

Like this story, share it with millions of investors on M3

LIC trims stake in Tata Global Beverages to 5.60%

The company's total income from operations rose to Rs 1,813.46 crore during the first quarter, as compared to Rs 1,725.10 crore during the same period of previous fiscal.

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State-owned Life Insurance Corporation (LIC) has reduced its stake in Tata Global Beverages Ltd by 2.02 percent, selling 1.25 crore shares in the open market. LIC, which had 7.63 percent stake earlier, brought down its shareholding in the company to 5.60 percent by selling shares between December 27, 2012 and October 29, 2013, Tata Global Beverages said in a filing to the BSE.

During the first quarter ended June 30, 2013, Tata Global Beverages posted 43.68 percent rise in consolidated net profit at Rs 111.63 crore compared with net profit of Rs 77.69 crore for the same period of previous fiscal.

The company's total income from operations rose to Rs 1,813.46 crore during the first quarter, as compared to Rs 1,725.10 crore during the same period of previous fiscal.

Shares of Tata Global closed at Rs 164 apiece, down 0.58 percent from their previous close on the BSE.

On October 31, 2013, Tata Global Beverage closed at Rs 164.00, down Rs 0.95, or 0.58 percent. The 52-week high of the share was Rs 181.70 and the 52-week low was Rs 122.00.

The company's trailing 12-month (TTM) EPS was at Rs 4.64 per share as per the quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 35.34. The latest book value of the company is Rs 37.49 per share. At current value, the price-to-book value of the company was 4.37.

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