Rain Rally! IMD forecasts above-normal monsoon; rural-related stocks rally big time

India Infoline News Service | Mumbai | April 13, 2016 18:52 IST

As per IMD Data, rain may be 106% of LPA during this year, which is a welcome development considering that India has had two poor monsoons back to back.

Rural-related stocks are closed higher for the second consecutive session on BSE after IMD Data and Skymet forecasts. As per IMD Data pertaining to long-range forecast for 2016 southwest monsoon season rainfall, rainfall is likely to be 106% of the Long Period Average (LPA) with a model error of ± 5%. The LPA of the seasonal rainfall over the country as a whole for 1951-2000 is 89 cm.

Mahindra & Mahindra Ltd ended at Rs. 1332.6, up by Rs. 91.85 or 7.4% from its previous closing of Rs. 1240.75 on the BSE. The scrip opened at Rs. 1259 and touched a high and low of Rs. 1349 and Rs. 1254.45 respectively. A total of 3267592(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 77062.04 crore.

P I Industries Ltd ended at Rs. 645.85, up by Rs. 33.4 or 5.45% from its previous closing of Rs. 612.45 on the BSE. The scrip opened at Rs. 620 and touched a high and low of Rs. 691.5 and Rs. 620 respectively. A total of 723240(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8398.36 crore.

Kaveri Seed Company Ltd ended at Rs. 401.1, up by Rs. 19.95 or 5.23% from its previous closing of Rs. 381.15 on the BSE.
The scrip opened at Rs. 395 and touched a high and low of Rs. 407.5 and Rs. 394.45 respectively. A total of 1824939(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2632.03 crore.

VST Tillers Tractors Ltd ended at Rs. 1767, up by Rs. 53.75 or 3.14% from its previous closing of Rs. 1713.25 on the BSE. The scrip opened at Rs. 1725 and touched a high and low of Rs. 1839 and Rs. 1725 respectively. A total of 48742(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1480.17 crore.

Monsanto India Ltd ended at Rs. 1656.45, up by Rs. 33.6 or 2.07% from its previous closing of Rs. 1622.85 on the BSE. The scrip opened at Rs. 1652 and touched a high and low of Rs. 1700 and Rs. 1642 respectively. A total of 81098(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2801.49 crore.

According to Skymet, monsoon 2016 is likely to be above the normal at 105% of the long period average (LPA) of 887 mm for the four-month period from June to September, with an error margin of plus/minus 4%. The weather forecaster said that normal onset of rains is expected resulting in good rainfall over Peninsular India. Skymet has forecast rainfall at 90% of LPA in June, 105% of LPA in July, 108% of LPA in August and 115% of LPA in September.

Insecticides India Ltd ended at Rs. 419, up by Rs. 18.2 or 4.54% from its previous closing of Rs. 400.8 on the BSE. The scrip opened at Rs. 405 and touched a high and low of Rs. 436 and Rs. 405 respectively. A total of 334141(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 828.37 crore.

***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.