Shares of Tata Coffee Ltd climbed nearly 13 per cent on Wednesday. Earlier, Tata Consumer Products Limited (TCPL) had announced the merger of all the businesses of this company with itself as part of the restructuring plan. Shares of Tata Coffee Limited (TCL) gained 12.91 per cent to Rs 221.60 on the BSE. Shares of Tata Consumer Products also rose 5.28 per cent to 782.50.
TCPL had on Tuesday announced the merger of all the businesses of TCL with itself. The plantation business of TCL will be merged with TCPL Beverages & Foods Limited (TBFL), a wholly owned subsidiary of TCPL, the company said in a statement. The rest of the business, including TCL’s extraction and branded coffee business, will be merged with TCPL.