Farm Sector Stocks in Focus on Hopes of Good Monsoon

Mumbai: Shares of fertiliser, irrigation systems and agri machinery manufacturers were in limelight today, rising as much as 10.6 per cent, after the government said monsoon this year is expected to be normal.

Jain Irrigation Systems soared 8.23 per cent on NSE. 

The scrip of Escorts zoomed 10.61 per cent and VST Tillers Tractors rallied 7 per cent.

Shares of Chambal Fertilisers and Chemicals surged 5.19 per cent, Kaveri Seed Company gained 4.96 per cent, Rashtriya Chemicals and Fertilizers (4.42 pc), Deepak Fertilisers and Petrochemicals (4.1 pc) and National Fertilizers (4 pc).

"El Nino condition is declining. It is expected that La Nina condition will take-over, and will perhaps favour a good monsoon this year," Agriculture Secretary Shobhana K Patnaik said yesterday addressing a national conference to launch kharif campaign for 2016-17.

Met Department's predictions will be out later this month, giving a clear picture of monsoon, he added.
 

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