Kaveri Seed shares up; monsoon rain sparks sowing hopes

Reuters Market Eye - Shares of Kaveri Seed Co Ltd rise on hopes the arrival of monsoon rains through parts of the country will lead to increased sales of seeds, especially in the company's key markets such as Andhra Pradesh.

The company has seven processing plants spread across Andhra Pradesh and Karnataka, Kaveri's annual report for 2012-2013 shows.

The monsoon strengthened at the start of the key planting month after recording the weakest first month of the June-September rainy season in five years, weather officials said on Thursday.

Kaveri Seed shares were up 1.7 percent as of 10:10 a.m.

(Reporting by Abhishek Vishnoi)