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Tata Global Beverages falls on Morgan Stanley downgrade

 Tata Global Beverages falls on Morgan Stanley downgrade
Shares of Tata Global Beverages dropped sharply by almost 5%, after Morgan Stanley downgraded the company to "underweight" from "equal weight".

The shares of the company were trading at Rs 165, down Rs 8.45 over Friday's close. The stock which was trading at Rs 130 in September has risen to the present levels.

"The business suffers from poor earnings visibility, weak brand/market positioning, a lack of pricing power, sluggish revenue growth and mediocre return ratios," Morgan Stanley said about Tata Global.

Deals with Star Bucks has seen the stock staging a smart rally, and analysts believe that the stock is certainly over valued at the current levels.

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