Mid-cap rally reaches Tata Global; stock rallies nearly 8%
Tata Global Beverages touched an intra-day high of Rs 154.30 per share on Wednesday before ending the day with a gain of 7.71% on BSE Sensex.
Shares of Tata Global Beverages closed at Rs 153.30 per share, up by 8.11% on NSE Nifty.
Market data show that the stock's volume jumped over four times its daily three-month average and was highest since 2014.
The share is part of BSE mid-cap index which is currently trading at record highs.
The current share price of Tata Global Beverages is highest since February 2015, where it stood at Rs 154.90.
In the past year, shares of Tata Global Beverages have risen by 15%.
Recently in a presentation to US-based investors, Tata Global Beverages stated, that it plans to increase its focus in India and strenghten its presence in South Asian market.
The company has a joint venture with Starbucks Coffee in India.
On Wednesday, Sensex closed at 28220.98, below 113.57 points or 0.40%, while Nifty at Rs 8743.95 down by 25.20 points or 0.29%.