Agri Stocks Surge on PM Dhan-Dhaanya Krishi Yojana

New Delhi, Feb 1 (PTI) Shares of agriculture companies surged up to 13 per cent on Saturday after Finance Minister Nirmala Sitharaman announced PM Dhan-Dhaanya Krishi Yojana, covering 100 districts with low yields, modern crop intensity and below-average credit parameters.

The scrip of Kaveri Seed Co soared 13.49 per cent to Rs 1,020.70 apiece, Mangalam Seeds climbed 7.09 per cent to Rs 222, Nath Bio-Genes jumped 5.77 per cent to Rs 178.60, Dhanuka Agritech increased 2.61 per cent to Rs 1,479.35 and UPL appreciated 0.94 per cent to Rs 609 on the BSE.

Additionally, Paradeep Phosphates shares increased 2.75 per cent to Rs 115.90, Rashtriya Chemicals & Fertilisers appreciated 0.95 per cent to Rs 164.75, PI Industries climbed 0.85 per cent to Rs 3,512.05, Bayer Crop Science rose 0.67 per cent to Rs 5,148.25 and Mangalore Chemicals & Fertilizers went up 0.45 per cent to Rs 168.45 apiece on the bourse.

Coromandel International stock went up 0.11 per cent to Rs 1,812 apiece.

However, Chambal Fertilisers & Chemicals scrip fell 0.59 per cent to Rs 501.05 apiece, and Tata Chemicals slipped 0.30 per cent to Rs 983.85 on the BSE.

The 30-share BSE Sensex climbed 385.19 or 0.50 per cent to 77,885.76 in the mid-session trade.

On Saturday, FM Nirmala Sitharaman announced PM Dhan-Dhaanya Krishi Yojana Yojana, covering 100 districts with low yields, modern crop intensity and below-average credit parameters.

Presenting her record eighth consecutive budget, she also said that the scheme would benefit 1.7 crore farmers.

She added the government will launch a rural prosperity, and resilience programme focusing on youth, women and farmers.

Nafed (National Agricultural Cooperative Marketing Federation of India) and NCCF will procure pulses in the next four years.

The government will also roll out a 6-year programme for Atmanirbharta in pulses with a special focus on tur, urad, and masoor.

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

President Droupadi Murmu on Friday said the government is working towards modernisation and self-reliance in the agriculture sector while focusing on boosting farmers' income.

Addressing the joint sitting of Parliament at the start of the Budget Session, Murmu highlighted that India achieved a record foodgrain production of 332 million tonnes in 2023-24.