Shares in Tata Global Beverages Ltd gained 1.6 per cent to Rs 152.95 after Deutsche Bank started coverage on the company with a "buy" rating and a target price of Rs 200.
Deutsche touted Tata Global as a "turnaround story," saying EBITDA margins have bottomed out and current share prices do not properly reflect true value.
Tata Global produces tea and also runs retail operations, including a joint venture in India with Starbucks Corp.
