McLeod Russel India Limited is Buy on charts

McLeod Russel is the world’s largest tea plantation company.

producer of over 70 million kilos of high quality tea from our 53 tea estates in Assam and West Bengal. In tea business this company directly employs 104,063 people, a large number of whom are women.
With annual sales in excess of £75 million (2006-07)and are exoected to cross this figure in 2007-2008)
Company Will be completing the formalities of Williamson Tea acquisition and the Doom Dooma acquisition very soon in near future.

This Script is a very good buy, It is expected to break it 52 week high of 102 on NSE very soon. As the Tea consumers in india is increasing dramtically we can expect this company to give atleast 20 - 30 % returns in short term .

Source: NSE - Mcleod Russel India Limited has informed the Exchange that : "The Hon'ble High Court at Calcutta at the hearing held on 16th April 2008 has sanctioned the Scheme of Amalgamation of The Moran Tea Company (India) Limited with our Company with effect from the appointed date i.e. 1st April 2007. The Scheme will become effective upon filing of the Certified Copy of the Order of the Hon'ble High Court at Calcutta with the Registrar of Companies, West Bengal, Kolkata." Date: 2008-04-17