Shares of nine companies whose business is linked with the agriculture sector saw mixed trend at 12:05 IST on BSE after Finance Minister Nirmala Sitharaman said that government will invest widely in agricultural infrastructure.
The S&P BSE Sensex was down 113.51 points, or 0.28% at 39,794.55.
Most agri stocks rose. Godrej Agrovet (up 2.45%), Jain Irrigation Systems (up 1.47%), KSB Pumps (up 0.96%), Kaveri Seed Company (up 0.85%) and Monsanto India (up 0.36%) edged higher. Aries Agro (down 2.49%), Shakti Pumps (down 1.89%), Dhanuka Agritech (down 1.61%) and Mahindra & Mahindra (down 1.25%) edged lower.
Finance Minister Nirmala Sitharaman said the government will invest widely in agriculture infrastructure and support private entrepreneurship for value addition in farm sector. In the Union Budget presented today, Nirmala Sitharaman made some big-bang announcements for rural India, including zero-budget farming. It considered 'zero budget' because costs of raising the main crop are offset by the income that farmers earn from intercrops. Under this method, chemical fertilizers and pesticides make way for locally available cow dung and cow urine, jaggery and pulse flour. It's currently in practice in Andhra.
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