Tata Global Beverages gains; Deutsche starts with buy

Shares in Tata Global Beverages Ltd gain 1.6 percent to 152.95 rupees after Deutsche Bank starts coverage on the company with a "buy" rating and a target price of 200 rupees.

Deutsche touts 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.

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