New Delhi: Shares of Tata Chemicals zoomed nearly 9 per cent on Thursday after the Tata Group announced the transfer of the branded food business from the company to Tata Global Beverages in an all-share deal.
The scrip jumped 8.36 per cent to Rs 604 on the BSE and 8.83 per cent to Rs 606 on the NSE.
Shares of Tata Global Beverages also advanced 10.61 per cent to Rs 219.85 on the BSE.
With an intent to put in place a consolidated platform for its consumer business and become a leader in the FMCG segment, Tata Group Wednesday announced the transfer of the branded food business from Tata Chemicals to Tata Global Beverages in an all-share deal that will create an over Rs 9,000-crore giant.