NEW DELHI: Shares of Tata Global Beverages today surged over 8 per cent after the company said it will launch its premium natural mineral water brand 'Himalayan' in the US market.
The stock soared 8.17 per cent to end at Rs 193.30 on the BSE. During the day, it jumped 9.82 per cent to Rs 196.25 -- its 52-week high. At the NSE, it jumped 8.44 per cent to close at Rs 193.85.
In terms of volume, 31.55 lakh shares of the company were traded on the BSE and over 2 crore at the NSE during the day.
The Himalayan brand is available in India and Singapore. The mineral water brand "will now enter the US market in a phased manner through an agreement signed by its subsidiary with Talking Rain Beverage Company, the maker of Sparkling Ice flavoured sparkling waters to distribute and market the brand", Tata Global Beverages (TGB) said in a statement yesterday.
This makes Himalayan one of the first premium Indian FMCG brands to target the broader American audience, the company said.