Farm sector stocks in focus on 'above normal' monsoon forecast

Shares of fertiliser, irrigation systems and agri machinery manufacturers were in limelight today with gains of up to 16 per cent on forecast of an 'above normal' monsoon this year.
The scrip of Insecticides (India) zoomed 16.14 per cent, Jain Irrigation Systems surged 6.13 per cent and Chambal Fertilisers and Chemicals rose by 4.07 per cent on BSE.
Kaveri Seed Company went up by 3.39 per cent, while other major gainers included National Fertilizers (3.05 per cent), Rashtriya Chemicals and Fertilizers (2.95 per cent) and Deepak Fertilisers and Petrochemicals (1.12 per cent).
Shares of VST Tillers Tractors also surged 11.25 per cent while that of Escorts soared 10.53 per cent.

There will be "above normal" monsoon this year, the Met office predicted today, allaying fears about any slowdown in farm and economic growth after two consecutive years of drought.
Agriculture, which contributes 15 per cent to India's GDP and employs about 60 per cent of the country's population, is heavily dependent on monsoon as only 40 per cent of the cultivable area is under irrigation.