Extending its previous session rally, Tata Coffee on Wednesday rose by 13 per cent, touching a record high level on the BSE, driven by heavy buying on the back of rising coffee prices in the global market.
Shares of the company ended the day 13.02 per cent up from its previous close at Rs 759.40 on the Bombay Stock Exchange (BSE). In intra-day trade, the stock had gained 18.76 per cent hitting a lifetime high of Rs 798.
In the previous trade also, Tata Coffee saw buying interest and spurted by over 19 per cent.
The stock witnessed a similar upsurge on the National Stock Exchange, where it surged by 13.87 per cent to close at Rs 765.
On the volume front, over one crore shares of the company were traded on the two bourses.
"The future prices of Arabic coffee soared to a 34-year high on the back of tight supplies and increased global demand, which resulted in impressive buying by the investors in the Tata Coffee stock," an expert said.
Meanwhile, after a choppy session, the BSE 30-share key index Sensex settle the day at 18,469.95, up by 30.30 points.
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