Tea stocks in focus; Jay Shree Tea, Dhunseri Tea up over 5%

Harrisons Malayalam, Dhunseri Tea, Rossell India, Jay Shree Tea and Warren Tea were up 5%-13% on the BSE.

Shares of tea companies were trading higher by up to 13% on the bourses in early morning trade in an otherwise subdued market.

Harrisons Malayalam (up 13% at Rs 60.90), Dhunseri Tea (12% at Rs 305), Rossell India (8% at Rs 161), Jay Shree Tea (7% at Rs 85.50) and Warren Tea (7% at Rs 150) have rallied more than 5% each on the BSE.

McLeod Russel, Goodricke Group, Tata Coffee and CCL Products were up 1%-4% as compared to 0.10% decline in the S&P BSE Sensex.

According to tea producers, prices are likely to go up further in March-April, the Economic Times report suggests.

Meanwhile, India's tea production in September dropped 5.4% from a year earlier to 148.81 million kg, the state-run Tea Board said in a statement.

 

Production in West Bengal dropped 13.5% from a year earlier to 39.24 million kg, while output in southern India dropped 7.33% to 18.34 million kg, the board said, CLICK HERE TO READ FULL DETAIL