India's only private weather agency on Thursday warned against "irrational exuberance" after a state forecast flagged heavier-than-expected monsoon rains and the stocks of companies dependent on the farm economy shot ahead a second straight day.
The Indian Meteorological Department (IMD) told Reuters late on Tuesday that the June-September monsoon season - critical for the half of the country's farmland that is not irrigated - was likely to bring more rain than its previous forecast as concerns over the El Nino weather condition had eased.
Indian shares have been on a record-breaking spree
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