Agriculture stocks witnessed a significant surge following the announcement of the PM Dhan-Dhaanya Krishi Yojana by Finance Minister Nirmala Sitharaman. The scheme aims to cover 100 districts with low productivity, moderate crop intensity, and below-average credit parameters, benefiting 1.7 crore farmers.
On the NSE, Kaveri Seed Company shares soared by 13% to ₹1,021.70, while Mangalam Seeds saw a 13% increase on the BSE, reaching ₹238.80. Nath Bio-Genes stock also surged by 3.32% to ₹174.75, and UPL shares remained flat at ₹601.25. However, Dhanuka Agritech stock experienced a decline of 3.49% on the NSE after peaking at ₹1,517 earlier in the day.
Paradeep Phosphates stock rose by 6% to ₹119.86, with other stocks such as Rashtriya Chemicals & Fertilisers, PI Industries, Bayer Crop Science, and Mangalore Chemicals & Fertilizers also recording gains.
In addition to the PM Dhan-Dhaanya Krishi Yojana, Sitharaman announced a multi-sectoral ‘Rural Prosperity and Resilience’ program aimed at addressing underemployment in agriculture through skilling, investment, technology, and revitalizing the rural economy.
Furthermore, a 6-year “Mission for Aatmanirbharta in Pulses” focusing on Tur, Urad, and Masoor was introduced, with Nafed and NCCF set to procure pulses over the next four years. A comprehensive program to boost vegetable and fruit production and ensure remunerative prices was also announced.
(Source: The Hindu Business Line)
