"Change in name (has been) done to reflect change in business of the company, which going forward would be more and more beverages and eventually and possibly into food," said Tata.
He also informed that the beverages could be both liquid and solid.
According the sources, Tata Group is also mulling increasing stakes in key companies.
TGB is looking at growing in the core tea market in the ongoing financial year (2010-11) and build scale in the US and Russia.
"We will continue to invest in innovation of new products. There will be wide innovative products in the beverage company and we will focus on wellness and good health products," said Tata.