Tata Consumer Products has acquired a 50 per cent stake of PepsiCo India in NourishCo Beverages Ltd, making it a wholly-owned subsidiary with effect from May 18, 2020, and hence TCPL has shown a gain of Rs 84 crore, it said. CLICK HERE TO READ FULL REPORT
Analysts at ICICI Securities expect steady improvement in earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin in FY21-22 due to the rising share of higher-margin branded products in India, revenue and cost synergy benefits, savings in distribution and cost-saving initiatives, and lower input prices.
While Starbucks operations continue to be impacted due to lockdown, 60 per cent of 186 stores have reopened now. "While we expect a gradual recovery in Starbucks business activities, we model losses in FY21," the brokerage said in a result review note.
It maintains an "ADD" rating on the stock with the target price of Rs 450.