Overview

• The memorandum of understanding was signed with the Ministry of Food Processing Industries during World Food India 2025 in New Delhi.
• Tata Consumer said the proposed outlay will depend on the financial evaluation of individual projects and on obtaining corporate and statutory clearances, with further disclosures to follow once terms are set.
• The company announced the development through a regulatory filing to the stock exchanges on September 26.
• Goldman Sachs reiterated a buy rating and raised its price target to Rs 1,290, citing improved earnings visibility and expected margin recovery aided by lower tea prices.
• Shares ended 1.32% lower at about Rs 1,119, while CARE Ratings reaffirmed the A1+ short-term rating covering up to Rs 1,500 crore of commercial paper and loan facilities.