MUMBAI, MAR 21:
Tata Coffee on Monday snapped its nine-day bull run on the BSE as investors preferred locking in gains in the stock which had surged by an impressive 77 per cent in the nine straight trading sessions.
Shares of Tata Coffee continued its rally in the start of the session but soon lost ground and ended 0.38 per cent lower at Rs 995.60 on the Bombay Stock Exchange (BSE).
The counter had witnessed a handsome jump of over 77 per cent in the last nine trading sessions, making its investors wealthier by Rs 812.83 crore. The market capitalisation of Tata Coffee, which stood at Rs 1,053.75 crore on March 7, 2011, swelled to Rs 1,866.58 crore on March 18, 2011.
In a similar pattern, Tata Coffee shares settled at Rs 998.05, down 0.35 per cent from previous close on the National Stock Exchange.
Market observers said the Tata Coffee scrip outperformed the broader market primarily on the back of steaming coffee prices in the international market.
Meanwhile, the BSE benchmark Sensex finished the day at 17,839.05, down 39.76 points from previous close.
(Source: http://www.thehindubusinessline.com/markets/stock-markets/article1558614.ece)
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