Tuesday, 18 August 2015

Coffee stocks rally 3-9% on hopes of 100% FDI

Shares of coffee stocks are rallying on hopes of getting foreign funds. Tata Coffee, Tata Global Beverage, CCL Products  and Bombay Burmah  jumped 3-9 percent on Tuesday. 

The government may allow foreign direct investment (FDI) in rubber and coffee plantation sectors with an aim to attract more FDI into the country. 

 A proposal to this effect is under consultation of the commerce and industry ministry, sources said. Currently, 100 percent foreign investment is permitted through the government approval route in the tea plantation sector. However, FDI is not allowed in any other plantation sector or activity.

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