Tata Global Beverages Ltd – BUY CMP Rs129, Target Rs149, Upside 15.4%

Tata Global Beverages Ltd – BUY
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