Yesterday evening, Tata Consumer Products (formerly Tata Global Beverages) announced that it is acquiring Pepsico’s stake in NourishCo Beverages, which was a 50:50 JV between the two companies. This move is consistent with Tata Consumer’s focus on widening its F&B portfolio.

NourishCo Beverages Limited sells hydration brands such as Himalayan mineral water, Tata Gluco Plus and Tata Water Plus.

The stock was up today after two consecutive days of fall, opening with a positive gap of 2% at Rs.354 and rose to an intraday high at Rs.360, up 4%.