MUMBAI: Shares of tea producer McLeod Russel recovered 21% from its intraday low to touch a 52-week high of 248.30 on Thursday after its promoter Kamal Kishore Baheti announced that he has sold 1 crore shares, representing 9.14% stake in the company. ​According to BSE bulk deal data, Nomura has bought the entire lot at Rs 205.09. It has gained 60.56% so far this year. “We expect revenues to report a CAGR of 17% from FY2017-FY2020E and profits to post a CAGR of 60% during the same period. We had booked out of stock at Rs 246 more than two years ago, sensing a downturn in tea prices, but the scenario is changing for the better now.”

Source: Economic Times November 30, 2017 14:29 UTC