Shares of Tata Coffee today rose by as much as 4 per cent following the company’s reporting over two-fold increase in consolidated net profit at Rs 31.84 crore for the quarter ended June 30.
The company’s shares opened the day with over 2 per cent gain and as the trade progressed the stock moved up by 4 per cent to 52-week high of Rs 985 on the NSE.
At the BSE,the stock was up 3.39 per cent to Rs 978.45.
Tata Coffee yesterday reported jump in consolidated net profit on account of better sales in the first three months of the current fiscal.
The company had posted net profit of Rs 13.59 crore in the April-June quarter in 2011.
Meanwhile,in the broader market,the BSE 30-share index Sensex was trading at 17,212.29,up 108.98 points at 1040 hrs.