BSE FMCG Index on a high


Bangalore: On a year-to-date basis, the BSE FMCG index has returned 13.20 percent with Tata Tea leading the way with a return of 27.94 percent followed by Bombay Burmah, which added 19.07 percent. Coffee majors Tata Coffee and CCL Products also outperformed the FMCG index with a jump of 14.06 percent and 14.33 percent, respectively, reports Rahul Oberoi of Financial Chronicle. The tea industry dynamics had a major impact on such rising stocks. From January to April, India exported 59.97 million kg of tea, up 22.83 percent against 48.82 million kg of tea in the corresponding period a year ago, according to the latest figures by Tea Board of India. Coffee exports surged 48 percent at 143,511 tonnes since the beginning of this year, compared with 96,878 tonnes during the same period last year. Mcleod Russel and Jayshree Tea could not match the risers and were in fact on southward journey, dropping 25 percent each. These two companies posted a standalone net loss of 121 crore and 17.49 crore for the quarter ended March. Post-April 2010, however, tea stocks have been struggling to hold their fort on fear that tea exports will come down.