Tata Tea clarifies on news regarding acquisition of "Arizona Beverages"

With reference to the news item appearing in a leading financial daily titled "Tata Tea Keeps US plans alive, eyes AriZona" Tata Tea Ltd has clarified that the Company, as part of its growth strategy, is always looking for possible acquisitions whether in India or abroad.

With reference to the news item about acquisitions in the US beverages sector which may include AriZona Beverages or Gloria Jeans Coffees, the Company is unable to offer any comments at the moment except that the news report is speculative in nature.

The stock closed the day at Rs.712.95, down by Rs.1.85 or 0.26%. The stock hit an intraday high of Rs.744.90 and low of Rs.709.25. The total traded quantity was 113897 compared to 2 week average of 38071.

Source : Equity Bulls

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