Tata Consumer Products market value crosses Rs 1 lakh crore for first time ever
Tata Consumer Products share price: At around 10:57 a.m., shares of Tata Consumer Products traded 2.97 per cent or Rs 30.90, higher at Rs 1,073 apiece.
Tata Consumer Products share price: Tata Consumer Products' market capitalisation crossed the Rs 1 lakh crore mark for the first time in the morning deals on Friday, December 29. The stock hit an all-time high of Rs 1,081.85 apiece on the BSE.
At around 10:57 a.m., shares of the Tata Group company traded 2.97 per cent or Rs 30.90, higher at Rs 1,073 apiece.
Tata Consumer Products shares scaled a record high on Friday, December 29, the last trading session of 2023, after the Tata Group consumer products maker announced January 15 as the record date for a proposed merger of its subsidiary, Tata Coffee, with itself. The surge in Tata Consumer Products (TATACONSUM) shares took the company’s market capitalisation—also known as m-cap in market parlance—above the Rs 1 lakh crore mark first the first time.
The Tata Consumer Products stock jumped by as much as Rs 39.8, or 3.8 per cent, to Rs 1,081.9 apiece on BSE, surpassing an earlier peak of Rs 1,050 registered the previous day.
At noon, Tata Consumer shares held up 3.5 per cent for the day at Rs 1,078.3 apiece while the Tata group firm’s market value stood at Rs 1,00,170.7 crore. At the record high, the market cap touched a record high of Rs 1,00,505.1 crore, according to exchange data.
The amalgamation of all the businesses of Tata Coffee with Tata Consumer Products, scheduled to take effect on January 1, is part of the parent’s broader plan to unlock synergies and efficiencies. Also, Tata Coffee’s plantation unit will be demerged and amalgamated into TCPL Beverages & Foods, another Tata group company.
Tata Coffee (TATACOFFEE) shares also registered a record high, rising by as much as Rs 14.6, or 4.7 per cent, to Rs 322.7 apiece on the bourse.
"The Record Date, for the purpose of determining the shareholders of Tata Coffee to whom equity shares of Tata Consumer Products would be allotted pursuant to the Demerger and the Amalgamation in accordance with Clause 13.1 and Clause 20.1 of the Scheme, respectively, is Monday, January 15, 2024," the companies said in separate regulatory filings post-market hours on Thursday.
Tata Consumer Products & Tata Coffee share price: Past performance
Tata Consumer Products and Tata Coffee shares are on track to finish the year with gains of more than 41 per cent and 47 per cent, respectively, sharply outperforming a 19 per cent rise in the headline Nifty50 index.
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