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Budget 2018: Agricultural related stocks gain; M&M, Escorts hit new high

Escorts, M&M,Action Construction Equipment, Shakti Pumps, PI Industries, Monsanto India, Excel Crop Care and UPL were up 2% to 6% on BSE.

SI Reporter  |  Mumbai 

farmers, agriculture

Shares of agricultural related sectors like agro chemicals, pesticides and tractor were trading higher by up to 6% on after the Finance Minister Arun Jaitely in speech said the Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost.

(up 6% at Rs 861) and (up 3.5% at Rs 790) have hit their respective record highs on BSE in intra-day trade. Action Construction Equipment and Shakti Pumps (India) engaged in agri equipment segment were up 6% each.

NACL Industries, PI Industries, Monsanto India, Excel Crop Care, UPL and Meghani Organics from agrochemicals sector up in the range of 2% to 6% on BSE. On comparison, the S&P BSE Sensex was up 0.55% at 36,162 at 11:37 AM.

Government promises a Minimum Support Price of 150% of production cost of agricultural produce along with setting up of Gramin Agricultural This is a significant measure and would be a shot in the arm for the small and marginalized farmers"

First Published: Thu, February 01 2018. 11:42 IST