Diana Tea to setup resort / integrated township

Diana Tea Company Ltd has announced that the Company with its plantations in North Bengal producing about 5 million kilogram of black tea annually. The Company has got about 200 hectares of unutilised land in its tea estates, out of which 50 hectares is located on NH31, about 60 Kms away from Bagdogra Airport which is highly suitable for tea tourism / resort or integrated township. The Company intents to utilize its balance area for alternate crop cultivation.

The four decade old Company which produces about 5 million kilogram of black tea annually has recently entered into direct tea marketing and has started marketing of value added products like packet tea and dipping tea bags. DIANA-Packet tea has been launched in the north Indian States of Rajasthan, Haryana, Chhattisgarh and Madhya Pradesh and Dipping tea bags of the Company is mainly marketed in Kolkata, catering to corporate and office segment, and is becoming increasingly popular. "Diana" dipping tea bag is also exported to Australia, and the volume is also expected to grow. Company expects significant growth in its sales from marketing of its value added products in the current year.

The stock closed the day at Rs.16.19, down by Rs.0.18 or 1.10%. The total traded quantity was 147377 compared to 2 week average of 309582. The stock hit an intraday high of Rs.17 and low of Rs.16.

Source : Equity Bulls

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