caught this scrip at about 91........ since then everyday up +7-8%...... cmp 110.50............. wots hapening in the stock??? some good order or something???? if anyone knows...... pls tell..... seniors pls advice on the same........plssss..
McLeod Russel have the best gardens in Assam and their teas sell for the highest margins..Deepak Khaitan of Mcleod Russel was on the TV channels..Besides what he said about the immediate future of tea margins here that'd keep rising because of the Kenya-shortage...Buzz is that there could be a sharp fall in Kenya's tea production boosted domestic tea scrips..
Investors are optimistic that the deficit in Kenya's production will result in increased exports from India. This may in turn lead to a hike in domestic prices. Reports suggest that Kenya's tea production will be 25% lower this year in 2006 due to severe drought. Kenya produced 32.80 crore kilograms of tea in 2005. This year, the country is expecting the figure to be around a meagre 24.60 crore kilograms.
Indian tea exports, especially to UK and Pakistan, may rise as a result. Both countries depend upon Kenyan tea for domestic consumption whose quality is only matched by Indian tea.
Tea prices in Kenya have already started rising as output has declined.
Nobody can say when this moribund industry would ever take off, but such goodish news from Kenya could do wonders that the tea chaps have prayed and waited for while funding their barely-making-a-living-margins for so many years.
As far as Mcleod Russell is concerned I happened to study the latest Qr.results from the BSE and found that the PAT is -(9.31) crores as against that of last Qr. 31.8 crore and the EPS comes to only -(1.67).