Kanco Tea & Industries Limited updates on damages at its tea estates

An unprecedented hail storm hit Mackeypore Tea Estate and Bamonpookrie Tea Estate around 5 p.m, on 13th December,2023 and caused significant damage to tea stored in Mackeypore Tea Estate Factory and over 400 labour quarters at both Tea Estates. There will be a production loss of approximately 5000 kgs of teas as the tea bushes were also affected by the storm. Tea Board of India had mandated 16th December, 2423 as the last date of manufacturing of teas in the season 2023. The approximate financial damage will be Rs.40,00,000/-. The company is taking necessary steps to address the situation on a war foot basis.

Shares of Kanco Tea & Industries Ltd was last trading in BSE at Rs. 74.47 as compared to the previous close of Rs. 76.10. The total number of shares traded during the day was 2830 in over 68 trades.

The stock hit an intraday high of Rs. 77.00 and intraday low of 74.30. The net turnover during the day was Rs. 213465.00.

Source : Equity Bulls

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KancoTeaandIndustries INE398L01017 Damages TeaEstates