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Saturday, May 13, 2006

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Tea, coffee brew well for Bombay Burmah

Bombay Burmah, which is seen to derive bigger benefits from its tea and coffee businesses, is powering ahead on the bourses.

On Friday, it ranked among the top gainers on NSE, ending with a straight 10 per cent gain at Rs 563.60. The counter is now nearing its 52-week high of Rs 594.

While volumes remain not too impressive, trading sentiments are slowly building up.

Indian promoters, the Nusli Wadia group, hold well over 60 per cent of the equity of what would easily figure among the country's oldest publicly listed companies.

Friday's closing price is a far cry from the stock's 52-week low of Rs 148.

Nilanjan Dey

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