Tata Global Beverages gains; Deutsche starts with "buy"

Reuters Market Eye - Shares in Tata Global Beverages Ltd(TAGL.NS) gain 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 (SBUX.O).

Tata Global Beverages shares were up 2.6 percent to 154.40 rupees as of 1:22 p.m.

(Reporting by Indulal PM)