Tata Global Beverages Ltd – BUY
CMP Rs129, Target Rs149, Upside 15.4%
CMP Rs129, Target Rs149, Upside 15.4%
- Correction in Kenyan tea prices augurs well for TGBL
- Rupee depreciation of ~6% yoy to drive revenues
- New business initiatives to further drive growth
- Recent price correction provides a good entry point; BUY
The Finance Ministry has called for Reliance Industries to deliver outstanding gas at old price of USD 4.2/ million metric British thermal units. Upside in price needs to be capped to control unlimited gains. However, RIL will get real benefit of doubling of natural gas prices only from September 2017 when its newer and satellite fields off the east coast come to production.
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