Monsanto India has rallied over 14% to Rs 852 on back of heavy volumes on reports that the Environment Minister Veerappa Moily is likely to approve genetically modified (GM) food crops in the country.
The stock opened at Rs 752 and touched a high of Rs 870, its highest level since October 2011, on the BSE. A combined 150,000 shares have changed hands on the counter so far on the BSE and NSE.
Monsanto India is a leading global provider of technology-based solutions and agricultural products aimed at improving farm productivity and food quality. The company is a leading producer of seed brands in crops such as maize, cotton, oilseeds (soybeans and canola) and vegetables.
Moily's support will pave the way for the government to submit an affidavit in the Supreme Court acquiescing to field trials of GM food crops on a conditional basis, the Economic Times report suggests.
The stock opened at Rs 752 and touched a high of Rs 870, its highest level since October 2011, on the BSE. A combined 150,000 shares have changed hands on the counter so far on the BSE and NSE.
Monsanto India is a leading global provider of technology-based solutions and agricultural products aimed at improving farm productivity and food quality. The company is a leading producer of seed brands in crops such as maize, cotton, oilseeds (soybeans and canola) and vegetables.
Moily's support will pave the way for the government to submit an affidavit in the Supreme Court acquiescing to field trials of GM food crops on a conditional basis, the Economic Times report suggests.