 "Agri-based stocks firm up on above normal monsoon forecast")
Shares of agriculture-based companies firmed up today after private agency Skymet forecasted above normal monsoons this year.
Skymet, a non-government weather forecaster, said on Monday that the year's southwest monsoon should be slightly ‘above normal’, at 105 per cent of the Long Period Average (LPA). The error margin is plus or minus four per cent. (Click here for the full report)
Rainfall within 96-104 per cent of the LPA is considered normal and anything above as 'above normal'. LPA is 889 mm, the average rain the country got in the 50 years from 1951.
Among the agri-based stocks, Rallis India, UPL, Advanta, Monsanto, PI Industries, Insecticides India and Jain Irrigation were up 2.5%-14% each. In the fertiliser pack, Coromandel International, FACT. RCF and Chambal Fertilisers were up 2.5%-3.5% each.
