India's Tata Coffee, Tata Global surge on report of food business merger

Tata Coffee

03/07/2018 10:57

** Shares of Tata Coffee Ltd  TACO.NS  surge as much as
19.75 pct to 134 rupees, mark their highest intraday pct gain
since Nov 2012
    ** Tata Global Beverages Ltd  TAGL.NS  up as much as 7.6
pct, posts biggest intraday pct gain in over two months
    ** Tata Chemicals Ltd  TTCH.NS  rises up to 3.7 pct, its
biggest intraday pct gain in over a month
    ** Salt-to-software conglomerate Tata Group says it will
consider merging food business into a single company, reports http://bit.ly/2KEjFFa
 Bloomberg, citing people with knowledge of the matter
 urn:newsml:reuters.com:*:nFWN1TZ051
    ** Tata considers separating salt and branded lentils
businesses of Tata Chemicals, and merging them with Tata Global
Beverages - Bloomberg report
    ** Tata may also merge Tata Coffee with the beverages
company, says media report 
    ** Tata Coffee and Tata Global were not immediately
available for comment, while Tata Chemicals spokesperson
declined to comment
    ** More than 6.2 mln Tata Coffee shares change hands, about
19 times their 30-day moving avg volume of 336,567 shares, as of
0947 GMT 
    ** About 6.3 mln of Tata Global Beverages shares traded,
more than twice their 30-day moving avg volume of 2.8 mln shares
    ** Up to Monday's close, Tata Coffee shares down 33 pct this
year; Tata Global down 16.4 pct in the corresponding period

 ((Reuters Messaging:
abyjose.koilparambil.thomsonreuters.com@reuters.net))