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The domestic equity indices ended near the day's high on Thursday led by gains in banks and auto stocks. As per the provisional closing data, the barometer index, the S&P BSE Sensex, jumped 520.68 points or 1.05% at 50,029.55. The Nifty 50 index advanced 176.65 points or 1.2% at 14,867.05. The buying was supported by positive global cues, backed by strong factory activity data in euro zone and Asia last month, and the optimism around the U. S. government's $2 trillion spending plan. US President Joe Biden unveiled a massive infrastructure package on Wednesday, which includes roughly $2 trill...

Tata Consumer Products Ltd (TCPL) on Thursday announced exit from its two US-based joint ventures by selling its stake to the JV partner Harris Tea Company LLC. TCPL's step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group LLC and Southern Tea LLC to the JV partner Harris Tea Company LLC, USA (Harris Tea), the company informed in a regulatory filing. The exits from both the JVs are in-line with TCPL's strategy to focus on the core branded business, it added. "We hereby inform that the overseas step-down subsidiaries of TCPL in the USA h...

Tata Consumer Products (TCPL) said its step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group and Southern Tea to the joint venture partner, Harris Tea Company, USA. Empirical Group is engaged in the business of selling primarily white label tea and coffee in the foodservice channel and to contract customers. Southern Tea is a manufacturing entity acting as a supplier to Harris Tea and TCPL (Empirical, Tetley and Good Earth brands). This move is in line with TCPL's focus on its core branded businesses in International markets. It will help...