Tata Consumer shares in news as Tata group firm denies talks with Haldiram's
Tata Consumer said it is not in negotiations as reported in the news article. TCPL said it is not aware of any information that has not been announced to the stock exchanges.
- Sep 7, 2023,
- Updated Sep 7, 2023 9:04 AM IST
Shares of Tata Consumer Products Ltd (TCPL) will be in focus on Thursday morning after the Tata group firm said it was not negotiating with Haldiram's, as suggested by a Reuters report a day ago. TCPL shares had climbed 4 per cent in the previous session after Reuters suggested the Tata group’s consumer unit was in talks to buy at least 51 per cent of popular Indian snack food maker but is not comfortable with the $10 billion valuation sought.
"The company is not in negotiations as reported in the above-referred news article," TCPL said post market hours of Wednesday. Tata Consumer added that it is not aware of any information that has not been announced to the stock exchanges, which requires disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015.
TCPL said it evaluates various strategic opportunities for growth and expansion of the business of the company, on an ongoing basis. "The company will make appropriate announcements in compliance with the obligations under SEBI (LODR) Regulations, 2015, as and when any such requirement arises," it said.
The Reuters report had suggested Haldiram's was also talking with private equity firms including Bain Capital about the sale of 10 per cent stake. TCPL, which owns UK tea company Tetley and has a partnership with Starbucks in India, is negotiating the stake purchase, the report suggested.
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Shares of Tata Consumer Products Ltd (TCPL) will be in focus on Thursday morning after the Tata group firm said it was not negotiating with Haldiram's, as suggested by a Reuters report a day ago. TCPL shares had climbed 4 per cent in the previous session after Reuters suggested the Tata group’s consumer unit was in talks to buy at least 51 per cent of popular Indian snack food maker but is not comfortable with the $10 billion valuation sought.
"The company is not in negotiations as reported in the above-referred news article," TCPL said post market hours of Wednesday. Tata Consumer added that it is not aware of any information that has not been announced to the stock exchanges, which requires disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015.
TCPL said it evaluates various strategic opportunities for growth and expansion of the business of the company, on an ongoing basis. "The company will make appropriate announcements in compliance with the obligations under SEBI (LODR) Regulations, 2015, as and when any such requirement arises," it said.
The Reuters report had suggested Haldiram's was also talking with private equity firms including Bain Capital about the sale of 10 per cent stake. TCPL, which owns UK tea company Tetley and has a partnership with Starbucks in India, is negotiating the stake purchase, the report suggested.
Also read: TCS shares in focus as Tata group firm bags $1 billion deal from Tata Motors arm JLR
Also read: Bharti Airtel, Indian Hotels, ITI: Trading strategy for these buzzing stocks