Starbucks India partner jumps after Nifty 50 inclusion

Tata Consumer Products

24/02/2021 04:20

** Shares of Tata Consumer Products Ltd  TACN.NS  jump as
much as 4.2% after NSE Indices says https://static.nseindia.com/s3fs-public/2021-02/ind_prs23022021.pdf
 it will add stock to the blue-chip NSE Nifty 50 index  .NSEI 
as part of its periodic review
    ** Tata Consumer will replace state-run gas utility GAIL
 GAIL.NS  on the Nifty 50 from March 31; GAIL shares down 1%
    ** Will become fifth co from Tata Group conglomerate on the
Nifty 50, after Tata Consultancy Services  TCS.NS , Tata Motors
 TAMO.NS , Tata Steel  TISC.NS  and Titan  TITN.NS 
    ** TACN sells salt and a range of beverages including Tetley
tea, besides operating Starbucks  SBUX.O  cafes in India through
a joint venture with the U.S. coffee chain
    ** Tata Consumer Products, currently valued at $8 bln, was
formed last year by the merger of Tata Global Beverages with
Tata Chemicals'  TTCH.NS  consumer business
    ** TACN shares climbed 84% in 2020, and have risen 9% so far
this year; Stock last up 1.2%

 (Reporting by Sachin Ravikumar)
 ((saisachin.r@tr.com; +91 80 6749 7649; Twitter: @sachinr27))