Tea stocks in focus; Warren Tea, Rossell India surge over 10%

Warren Tea, Rossell India, Williamson Magor & Co, Jay Shree Tea and Mcleod Russel are up 5%-18%.on the BSE.

Shares of tea companies are in focus and trading higher by up to 18% on the BSE on expectation that tea prices are likely to surge amid likely drop in production.

Warren Tea (up 18% at Rs 158), Rossell India (13% at Rs 137), Williamson Magor & Company (7% at Rs 62.70), Mcleod Russel India (6% at Rs 178), Jay Shree Tea (5% at Rs 78.75), Tata Global Beverages (4% at Rs 133) and Bombay Burmah Trading Corporation (3% at Rs 496) were trading higher by more than 3% on the BSE. At 02:01 PM, the S&P BSE Sensex was up 0.44% at 25,874 points.

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