India's Tata Consumer falls after Bisleri acquisition talks cease

Tata Consumer Products

20/03/2023 04:17

** Shares of Tata Consumer Products Ltd  TACN.NS  fall as
much as 2.2% to 691 rupees, biggest intraday pct loss since Feb.
27
    ** Co on Friday said it has ceased discussions with packaged
water maker Bisleri for a potential acquisition and no
definitive agreement was entered in the matter
    ** Stock trading below its 50-, 100-, and 200-day moving
averages since Jan. 2
    ** Trading volume at ~122,000 shares as of 9:30 a.m. IST
    ** Twenty analysts rate stock equivalent of 'buy' or higher,
four 'hold' and one 'sell;' median PT is 850 rupees - Refinitiv
data
    ** Stock down 7.9% this year as of to last close, against a
rise of ~3.2% in 2022

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))