Tata Coffee rises on receiving rating reaffirmation from CARE

Tata Coffee is currently trading at Rs. 793.00, up by 9.40 points or 1.20% from its previous closing of Rs. 783.60 on the BSE.

The scrip opened at Rs. 788.00 and has touched a high and low of Rs. 800.00 and Rs. 786.00 respectively. So far 57,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1075.00 on 21-Mar-2011 and a 52 week low of Rs. 355.00 on 10-Dec-2010.

Last one week high and low of the scrip stood at Rs. 862.90 and Rs. 780.20 respectively. The current market cap of the company is Rs. 1477.54 crore.

The promoters holding in the company stood at 57.48% while Institutions and Non-Institutions held 5.89% and 36.62% respectively.

Credit rating agency, CARE has reaffirmed the ‘AA’ rating assigned to the outstanding partially convertible debentures worth Rs 217.30 crore (reduced from 248.30 crore) of Tata Coffee.

The rating continues to draw strength from long-standing track record characterized by competent and experienced management, wide product range, strong parentage of TCL with ‘integrated’ nature of operations, as well as comfortable financial position.

Tata Coffee is arguably the largest integrated coffee plantation company in the world. The company has a hand in every aspect of the coffee making process, with business activities ranging from growing and curing of coffee and tea to the manufacture and marketing of value-added coffee products. It owns 19 coffee estates located in ideal coffee growing highlands of Southern India, with fertile soils and invigorating climate.

Source:- http://money.livemint.com/News/Home/EQUITY/MOVERS-TODAY/141108.aspx


Thanks
Ankit Wani
Intern @ DENIP Consultants Pvt. Ltd.