McLeod Russel India Ltd
McLeod Russel India, the leading tea Company of the world is looking forward to a rise in its sales in Africa, Vietnam and India amounting to nearly Rs. 3,000 crore by the end of Fiscal Year 2015.
It is planning to raise its production to 180-200 million Kg. MRIL MD, Aditya Khaitan, said that the Company’s currently shares nearly 4% of the total tea supply in the world tea market.
“We expect to double our market share in the next five years. However, it all depends on whether we get estates at the right prices, which can enhance our profitability”.
McLeod Russel India Ltd is ready to acquire its foreign counterpart, a Vietnamese tea company. The formers UK-based subsidiary Borelli Tea Holdings Ltd has proposed to get 100 per cent equity in Phu Ben Tea Co.
Mr Aditya Khaitan, Managing Director of McLeod Russel on sharing his vision said, “Our vision is to become a global producer of tea.” He further added that, “This will be certainly our first foray into a foreign country and, for that matter, for any Indian tea plantation company.”
McLeod Russel India Ltd, one of the leading tea producer has informed that its wholly owned arm Borelli Tea Holdings (Borelli), has inked a term sheet with Belgium-based SA SIPEF NV for acquisition of 100 per cent equity stake in Vietnam-based Phu Ben Tea Company at a cost of USD2 million.
Technical analysts have suggested that day traders can purchase Mcleod Russel stock around Rs 70 with a strict stop loss of Rs 69. The day trading target for the day is Rs 73.
Analysts also said that the next target for the day is Rs 76, if the stock markets remain on positive track.
On Tuesday (29 Jan), the share closed at Rs 70 on BSE. The stock of the company has touched 52-week high of Rs 98.95 and low of Rs 46.45 on BSE.