Stock market analysts have maintained 'sell' rating on Mcleod Russel India to achieve a target between Rs 185-182.

According to them, interested investors can sell the stock below Rs 188 with a strict stop loss of Rs 192.

Shares of the company, on Tuesday (Nov 03), closed at Rs 192.80 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 16.75 and 11.87 respectively. The share price has seen a 52-week high of Rs 235.70 and a low of Rs 35.25 on BSE.

McLeod Russel India Ltd's, the world's major tea manufacturer, July-Sept net profit increased 57% driven by improved realisation.

In April-Sept, the company's net sales surged 21%, despite lower sales.

During the April-Sept period, the company's production remained flat at 53.3 million kg.

In FY10, the company's total production will climb to 81 million kg as compared to 77 million kg last year.

McLeod Russel India anticipates the average tea price to ascend during the existing financial to Rs 135 per kg as compared to Rs 110 in the last year.

Company's managing director Aditya Khaitan said that a projected shortage of 60 million kgs in March at the commencement of the new tea season would increase prices in the coming fiscal.

In 2005, McLeod Russel got hold of Williamson Tea Assam from the London-based Magor family, which founded a partnership company, Williamson Magor in the country in 1869.

During the same year, McLeod Russel acquired Hindustan Lever's complete stake in Doomdooma Tea Co and two years later, bought Moran Holdings Plc of Britain.