Monsanto India jumps on parent's bullish outlook

Monsanto India jumped 4.40% to Rs 2,319 at 14:28 IST on BSE after the company's US parent beat quarterly forecasts and improved its near-term outlook.

Meanwhile, the BSE Sensex was down 164.43 points, or 0.65%, to 25,149.31.

On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 13,899 shares in the past one quarter.

The stock hit a high of Rs 2,414.60 so far during the day, which is also record high for the counter. The stock hit a low of Rs 2,261 so far during the day. The stock hit a 52-week low of Rs 560 on 22 August 2013.

The stock had outperformed the market over the past one month till 25 June 2014, rising 20.36% compared with 2.51% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 52.75% as against Sensex's 14.77% rise.

The mid-cap company has an equity capital of Rs 17.26 crore. Face value per share is Rs 10.

Monsanto India's US parent Monsanto Company on Wednesday, 25 June 2014, raised its guidance to the upper end of its previously announced ranges for the year ending 31 August 2014 at the time of announcement of Q3 May 2014 results.

US based Monsanto Company on Wednesday also announced a target to at least double full year ongoing EPS by the end of fiscal year 2019 based on its core business and the transformational potential of its new platforms. The largest driver of the overall growth over the next five years is expected to come from the established core seeds and traits business, with an expected contribution of more than $4 billion in total incremental gross profit growth during that period, Monsanto Company said in a statement on Wednesday, 25 June 2014.

Monsanto India reported net loss of Rs 6.05 crore in Q4 March 2014 as against net profit of Rs 1.54 crore in Q4 March 2013. Net sales rose 8.50% to Rs 74.91 crore in Q4 March 2014 over Q4 March 2013.

Monsanto India, a subsidiary of the Monsanto Company, USA is a seed company focusing on maize and agricultural productivity. Monsanto Company holds 72.14% stake in Monsanto India (as per the shareholding pattern as on 31 March 2014).

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