Tea Stocks Are Going Up Know Industry Insights Here

Tea Stocks are witnessing an upward trend. The stocks are moving high because of different reasons. The very first reason is the loss in tea production. Stocks like Harrison Malayalam, Jay Shree Tea & Industries, and Rossel India are rising in the intra-day trade. What are the rising tea stocks? What stocks will soar high in the coming months? Tea manufacturing in India is facing a lot of difficulties due to climate change. The impact is severe on the crops these days. Let us have more details about the same below.

Why Tea Stocks Are Rising?

Tea Stocks are rising because of several factors contributing to lower tea production this year. Lower production can be due to many reasons. The major reason is the climate change. Heatwaves put so much heat on the tea plantations in north east that it led to damaging many plants. Also, tea-producing states like Assam face high rainfall and floods. The excessive water is also damaging the plants.

Several tea stocks are leading to an overall growth of 16% in the stock. The share price of Harrison Malayalam is Rs. 247.95 per share. Jay Shree Tea & Industries has a share price of Rs. 131.70 per share. Rossel India has a share price of Rs. 665 per share. Burma Trading Corporation (BBTCL) will raise the stock price by 15%. The prices are further expected to rise. Jay Shree Tea and Industries Ltd.’s share price rose by Rs. 123.35 per share.

If we talk about Harrison Malayalam, it has 47% of its sales from tea. The company is a major Indian Agricultural Business Corporation. If we talk about tea production, the company has done a good job this year FY24 compared to FY23. The next year expects to perform even better. Apart from that, the rise in cost production will lead to a reduction in profitability. Till now, the tea production will fall by Rs. 10/kg in FY 24. Apart from that, BBTCL is working on the increasing demand for organic tea. More people are preferring organic tea because of its natural ingredients and benefits.

The organic market’s demand will increase even more due to increasing health issues by eating chemically grown foods. Tea Stocks rose by 16%. Bombay Burmah’s share price performs exceptionally well today with an 18.60% increase in the share price. The market opened at Rs. 2,005.05. The P/E ratio is 24.20. Stay tuned for more information on our website.