Investors watch out! Tea is hot and brewing in the markets today
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McLeod Russell brewed tea stocks on fire on Tuesday as bulk prices of the commodity firmed up further in Kolkata's auction markets.Weekly average prices for CTC leaf tea on a per kg basis stood at 163.57 rupees/kg on June 27, the latest data available, compared with 161.95 rupees on June 20th and 145.07 rupees on May 23rd. This upward trajectory is expected to continue.
Meanwhile, Jayshree Tea jumped 18 percent to 79 rupees. Rossell Tea gained 10 percent to 100 rupees. Goodricke Tea rose 10% to 147.70 rupees.Warren Tea added 9 percent at 140 rupees and Mc Leod Russell up was 7 percent at 236.40 rupees on the Bombay Stock Exchange.
(Image: Indiatimes)
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