Tea stocks in demand

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Capital Market
Last Updated : Jun 28 2013 | 5:30 PM IST

McLeod Russel India (up 5.80%), Assam Company (up 5.05%), Joonktollee Tea & Industries (up 4.28%), Harrisons Malayalam (up 1.40%), Goodricke Group (up 1.34%), Jayshree Tea and Industries (up 0.78%) and Warren Tea (up 0.59%), edged higher.

The BSE Sensex was up 552.31 points, or 2.93% at 19,428.26.

According to reports, tea prices in India surged at this week's auction as higher temperature and lower rainfall in Assam raised concerns over production amid robust demand from local buyers for good quality leaf.

The CTC (crush-tear-curl) grade was reportedly sold at Rs 154.13 per kilogram (kg), up 4.9% from the previous week's auction, while the dust variety was sold at Rs 158.23 per kg, up 3.9%.

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First Published: Jun 28 2013 | 3:22 PM IST

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