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Tata Coffee has received approval from the Board of Directors to expand the capacity of its wholly owned subsidiary in Vietnam. 450 crore rupees will be invested for this. The board of directors has approved the establishment of an additional 5,500 tonne ‘freeze-dried coffee’ facility in Vietnam, the company said in a stock exchange filing.
According to Tata Coffee, US$53.3 million (about Rs 450 crore) will be invested in the additional capacity. This amount will be derived from internal accruals and bank loans. Tata Coffee’s Vietnam subsidiary has a current capacity of around 5,000 tonnes, the company said. About 96 percent of the total capacity is in use.
There was a rush to buy the stock, a 20% upper circuit was imposed, the stock fell to ₹176.
Stock status
Shares of Tata Coffee today traded marginally higher at Rs. closed at 277.05. It has risen 5.30% in one month and 20.33% in six months. YTD the stock has gained 27.29% this year. The stock has gained 19.24% YTD this year. At the same time, this share has increased by 198.71% in the last five years.