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McLeod Russel rises on the buzz of plan to diversify into tea, agri business

24 Jul 2014 Evaluate

Mcleod Russel India is currently trading at Rs. 281.50, up by 0.55 points or 0.20% from its previous closing of Rs. 280.95 on the BSE.

The scrip opened at Rs. 272.00 and has touched a high and low of Rs. 283.90 and Rs. 270.00 respectively. So far 42932 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 330.00 on 02-Jan-2014 and a 52 week low of Rs. 240.35 on 20-Aug-2013.

Last one week high and low of the scrip stood at Rs. 288.50 and Rs. 278.00 respectively. The current market cap of the company is Rs. 3078.44 crore.

The promoters holding in the company stood at 45.71% while Institutions and Non-Institutions held 40.64% and 13.64% respectively.

In a bid to diversify into tea and agri business, McLeod Russel India is reportedly in talks with several consultants. The company is expected to gather the responses from consultants in another three months’ period.

The plan to look for new avenues of growth is also being seen as a move to hedge against volatile weather and rain deficiency. The company has also taken up irrigation and water conservation projects in its gardens in Assam. 

Among the possible new business avenues, branded packaged tea is seen as one of the probable areas where the company could make a foray.

Meanwhile, the company reported net loss of Rs 32 crore as againstRs 26.21 crore. Net sales for the quarter under review stood at Rs 99.38 crore compared to Rs 174.45 crore, dip of over 43 per cent.

Mcleod Russel Share Price

52.84 2.51 (4.99%)
17-Apr-2026 16:59 View Price Chart
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