Tata Consumer Products to transition 'Tata Cha' business to Indian Hotels Company

Tata Consumer Products continually evaluates its businesses in line with its strategy and business objectives. As a result of this process, the Company has decided to transition its Tata Cha business- a tea café format Quick Service Restaurant (QSR) chain to Qmin-Shops operated by a subsidiary of Indian Hotels Company Limited (IHCL). This will enable Tata Consumer Products to better focus on its core FMCG business.

Tata Cha currently has 12 stores across Bangalore serving beverages (tea, coffee, coolers), snacks and merchandise. The business is a good strategic fit for IHCL, and can be synergized with their Qmin brand.

Sunil D'Souza , MD & CEO, Tata Consumer Products said, "This is in line with our strategy of streamlining and simplifying our operations. Though it is a relatively small venture in its current form, exiting Tata Cha will enable us to sharpen focus on our core FMCG business."

Shares of TATA CONSUMER PRODUCTS LIMITED was last trading in BSE at Rs. 827.70 as compared to the previous close of Rs. 826.80. The total number of shares traded during the day was 13951 in over 1014 trades.

The stock hit an intraday high of Rs. 835.90 and intraday low of 826.10. The net turnover during the day was Rs. 11568624.00.

Source : Equity Bulls

Keywords

TATACONSUMERPRODUCTSLIMITED INE192A01025 TataCha QminShops QSRChain