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Shares of Tata Coffee rose as much as 4 per cent today on over two-fold increase in the company’s consolidated net profit to Rs 31.84 crore for the quarter ended June 30, 2012.
The scrip opened the day with over 2 per cent gain. As the trade progressed, the stock moved up by 4 per cent to a 52-week high of Rs 985 on the NSE. On the BSE, the stock was up 3.39 per cent to Rs 978.45.
Tata Coffee had yesterday reported a jump in consolidated net profit on account of better sales in the first three months of the current fiscal.
The company had posted a net profit of Rs 13.59 crore in the April-June quarter of 2011.
Meanwhile, the BSE 30-share index Sensex was trading at 17,212.29, up 108.98 points at 10.40 am.
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