McLeod Russel, Jay Shree Tea hit 52-week high; Harrisons Malayalam up 20%

McLeod Russel India, Jay Shree Tea, Tata Global, Warren Tea, Goodrick Group, Dhunseri Tea, B&A, Terai Tea and Harrisons Malayalam hit their respective 52-week highs.

Shares of tea producing companies have extended their past one week rally, surging by up to 20% on the BSE on back of heavy volumes in otherwise subdued market on expectation that lower production may boost tea prices.

As many as nine tea stocks - McLeod Russel India, Jay Shree Tea, Tata Global Beverages, Warren Tea, Goodrick Group, Dhunseri Tea, B&A, Terai Tea and Harrisons Malayalam - hit their respective 52-week highs on the BSE. By comparison, the S&P BSE Sensex was down 0.30% at 33,621 points at 03:05 PM.

In September this year, owing to heavy torrential