Tea, coffee shares gain on FDI hopes

Tata Coffee, CCL Products, Mcleod Russel, Andrew Yule, Bombay Burmah and Tata Global are up 3-9% each on the BSE.

Shares of tea and coffee companies are trading higher by up to 9% each on the bourses in morning trades on reports that the government is considering allowing foreign direct investment (FDI) in coffee plantation sectors.

A total of 100% foreign investment is currently permitted through the government approval route in the tea plantation sector. However, FDI is not allowed in any other plantation sector or activity, the PTI report suggests. CLICK HERE TO READ FULL STORY.

Among individual stocks, Tata Coffee has rallied 9% to Rs 105 on the BSE. CCL Products has surged 7% to Rs 247, followed by Mcleod Russel India (5% at Rs 207), Andrew Yule & Company (4% at Rs 26.25), Bombay Burmah Trading Corporation (3% at Rs 608), Tata Global Beverages (3% at Rs 135) and Jayshree Tea (1.5% at Rs 82).

At 09:19 AM, the S&P BSE Sensex was up 0.45% or 126 points at 28,005.