InvestorQ : Why is McLeod Russel rallying so strongly in recent days?
Rashi Mehra made post

Why is McLeod Russel rallying so strongly in recent days?

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Archita Jajjoo answered.
2 weeks ago
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McLeod Russel, the tea company of the Khaitan group, had been in trouble for a long time. In the last 2 days, the stock was locked in upper circuit and has gained 42.5% in two days flat amidst higher volumes. This rally was triggered after Carbon Resources bought 4.95 million shares of McLeod Russel representing 4.73% of total equity. Promoter stake of the Khaitan family is down to 6.25% after shares pledged by Khaitan family were sold by financiers. McLeod has the largest tea plantation comprising 33 tea estates in Assam and Bengal.

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