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Stocks of tea companies could turn out to be a hot pick for traders if one goes by the current trend at ground level. Tea prices went up Rs 50-60 a kg due to non-availability. In fact, tea auctions at North Indian auction centres – Kolkata, Guwahati and Siliguri – have not been held in the last two weeks due to non-availability of produce. “The teas are just not available and with hardly any carry-forward stock and the rolling stock being negative, the estimated pipeline shortage could be anything between 80 to 100 million kg (mkg),” say tea industry sources. Dry spell in many parts of Assam, particularly Upper Assam, Darjeeling and Dooars, has hit the crop. There has been some rains in the Barak Valley but these are scattered and late. Better watch out for Tata Global Beverages, Assam Company, Jay Shree Tea, Warren Tea, McLeod Russel and Goodricke Group.
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