Agri stocks Kaveri Seed, Mangalam Seeds surge post PM Dhan-Dhaanya Krishi Yojana announcement in Union Budget

Agriculture stocks surged on Saturday after Finance Minister Nirmala Sitharaman announced PM Dhan-Dhaanya Krishi Yojana, covering 100 districts with low productivity, moderate crop intensity and below-average credit parameters to help 1.7 crore farmers.

Kaveri Seed Company shares zoomed 13 per cent to ₹1,021.70 on the NSE, while Mangalam Seeds climbed 13 per cent on the BSE to ₹238.80.

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Nath Bio-Genes stock surged 3.32 per cent to ₹174.75 at 1.15 pm, and UPL shares traded flat at ₹601.25. However, Dhanuka Agritech stock declined 3.49 per cent on the NSE after hitting a high of ₹1,517 today.

Paradeep Phosphates stock rose 6 per cent to ₹119.86. In addition, stocks of Rashtriya Chemicals & Fertilisers, PI Industries, Bayer Crop Science and Mangalore Chemicals & Fertilizers also gained.

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The FM also mentioned a multi-sectoral ‘Rural Prosperity and Resilience’ programme to address underemployment in agriculture through skilling, investment, technology, and invigorating the rural economy.

Announcing the launch a 6-year “Mission for Aatmanirbharta in Pulses” with a focus on Tur, Urad and Masoor, Sitharaman added that Nafed (National Agricultural Cooperative Marketing Federation of India) and NCCF will procure pulses in the next four years.

A comprehensive programme for raising vegetables, fruit production, and providing remunerative prices will also be launched.