Indian tea makers surge; Harrisons Malayalam highest in 2 yrs
09/07/2024 05:57
** Shares of Indian tea making firms Harrisons Malayalam
HRMA.NS , Jay Shree Tea JYST.NS and McLeod Russel India
MCLE.NS up between 10%-14.7%
** HRMA up ~14.7% to 244.4 rupees, its highest in around two
years, while JYST soars to its highest since late-Feb
** MCLE up 10%, hitting upper limit of exchange-mandated
trading band
** India's tea prices have been soaring and are expected to
stay high as heatwaves and floods hurt output in key producing
regions, Reuters reported on Monday
** Production also affected by government ban on 20
pesticides, report adds
** Including session's gains, HRMA up ~38% YTD, while MCLE
and JYST jumped ~19% and ~20%, respectively
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com; +918447554364;))