TGBL consolidates overseas operations as one unit, exits non-core market

Tata Global Beverages Ltd (TGBL) has restructured its international operations by merging its businesses in Canada, America and Australia (CAA) and the UK, Europe, Middle East and Africa (EMEA) regions into a single unit.

The Tata Group firm has also exited non-core and sub scale markets to focus on core markets.

"In Russia, the company has restructured its operating model, it has divested its stake in plantations in Sri Lanka, and exited its joint venture business in China," TGBL said in a regulatory filing.

TGBL said it has restructured its international operations in order to unlock synergies for the business, optimise costs and streamline operations.

Tata Global Beverages MD and CEO Ajoy Misra said, "The restructure will help us better focus on core markets and better leverage growth opportunities."

The company said EMEA and and CAA units have been merged into a single unit called the international business division, with experienced country heads in key markets, reporting into a single head, Adil Ahmad for the division.

TCS beats Reliance Industries, becomes India's most valued company again

Tata Consultancy Services (TCS) on Wednesday reclaimed the country's most valued firm status by market capitalisation, pushing Reliance Industries Ltd to the second spot.

Reliance Industries (RIL) on Tuesday became the country's most valued firm by m-cap, replacing Tata Group's crown jewel TCS from the top slot.

However, RIL's reign was short-lived as it slipped to the second spot in the m-cap ranking with a market valuation of Rs 7.54 trillion on BSE on Wednesday.

On the other hand, the m-cap of TCS stood at Rs 7.56 trillion, which is Rs 14.08 billion more than that of RIL's valuation.

Shares of TCS rose 1.74 per cent to settle at Rs 1,975.10 on BSE and RIL gained 0.45 per cent to end the day at Rs 1,191.15.

TCS had first replaced RIL as the most valued firm more than five years ago.

The IT major in mid-June become the first Indian company to close the trading session with a market valuation of over Rs 7 trillion.