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Fundamental reasons drawing strength from the company's growth programme are seen to be driving the Tata Tea counter. The stock, which declined 0.87 per cent to close at Rs 749.75 on Monday on improved volumes, has seen a number of developments lately, analysts observe. The stock has gained 3.64 per cent over a week's time and 2.14 per cent in a month's time. These include a strategic investment in Energy Brands, a US-based outfit. Further, Tata Tea (GB) Ltd of the UK has signed a deal to take up the assets of a tea company in the Czech Republic. The acquisition has been financed by Tetley.

Nearer home, the company has recently decided to transfer the business of NIPO (or North India Plantation Operations), located in Assam and West Bengal, to a new venture. The deal will be effective from April next year. A few institutions are expected to take equity stakes in it. On Monday, over 74,000 shares constituted trading volumes.

Nilanjan Dey

More Stories on : Stock Markets | Stocks | Ear to the ground | Tea | Tata Tea Ltd

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