Agriculture firms' stocks steady as farmers protest against contested laws

Stocks of agro-chemicals, fertilisers, and edible oils companies are slowing down as farmers continue their weeks-long protests in Delhi

Even as farmers camp on Delhi’s borders to protest against three laws that open up India’s tightly regulated agricultural markets, one may have presumed that their hunkering down would reflect negatively on shares of agri-input and fertiliser companies.

Though a few have seen a marginal decline since November 27, 2020 (when the protests started), many agri-linked stocks continue to outpace indices such as the Sensex and Nifty (see table).

Stock prices of 21 such companies had risen in high double- and triple-digits in the 11 months prior to the end of November. Since November, while some agro-chemicals stocks like P I Industries