Tea shares surge; Rossell India, Goodricke Group, Jay Shree Tea up over 5%

Rossell India, Goodricke Group, McLeod Russel India, Warren Tea and Jay Shree Tea Industries were up more than 4%

Shares of tea companies have rallied by up to 17% on the bourses in intra-day trade on expectations that lower production may boost tea prices.

Rossell India, Goodricke Group, McLeod Russel India, Warren Tea, Jay Shree Tea Industries, Harrisons Malayalam and Tata Coffee among few were trading higher by more than 4% on the BSE. On comparison, the S&P BSE Sensex was up 0.52% at 33,535 at 01:13 PM.

Tea production in Assam, which accounts for over 50% of the annual production in the country, fell by 27% to 81.75 million kg (mkg) in September because of unseasonal