Union Budget 2024: Agriculture stocks rally up to 11% as FM allocates Rs 1.52 lakh crore for the sector
Shares of agriculture-related companies hogged the limelight on Dalal Street on July 23 after Finance Minister Nirmala Sitharaman approved Rs 1.52 lakh crore for agri and allied sectors.
- Jul 23, 2024,
- Updated Jul 23, 2024 11:54 AM IST
Shares of agriculture-related companies hogged the limelight on Dalal Street on July 23 after Finance Minister Nirmala Sitharaman approved Rs 1.52 lakh crore for agri and allied sectors.
Following the announcement, Kaveri Seed surged nearly 11% to Rs 1,073 in the morning trade at around 11.30 am (IST). Meanwhile, the scrip hit its 52-week high of Rs 1099.95. On the other hand, Jain Irrigation Systems gained nearly 2% to Rs 72.30 at around the same time.
Mangalam Sees advanced 6.81% to Rs 264.95, while JK Agri Genetics gained 2.24% to Rs 447.20. On the other hand, the benchmark BSE Sensex traded 121 points, or 0.15% down at 80,380 at around the same time. Heavy selling in metal counters, consumer durables and oil & gas dampened market sentiment.
The BSE Metal index plunged nearly 1.50% in the morning trade, while the BSE Oil & Gas index traded 1.36% lower at 30,356.
Shares of education-related firms also traded higher after the Finance Minister announced that financial support for loans up to Rs 10 lakh for higher education.
Aptech advanced 1.54% to Rs 210.45. CL Educate and NIIT Learning Systems were up 0.57% and 0.50%, respectively.
Bhupendra Bahadur Tiwari, Professor and Director, CMR University, Bengaluru said, “This budget marks a pivotal moment for the education sector, with substantial investments aimed at revamping our education system. Enhancing vocational training and focusing on STEM education can propel India towards becoming a global knowledge hub. It’s imperative, however, to monitor the implementation of these initiatives closely to ensure they reach the intended beneficiaries. Collaborative efforts between the government, private sector and educational institutions will be key to achieving these ambitious goals.”
Shares of agriculture-related companies hogged the limelight on Dalal Street on July 23 after Finance Minister Nirmala Sitharaman approved Rs 1.52 lakh crore for agri and allied sectors.
Following the announcement, Kaveri Seed surged nearly 11% to Rs 1,073 in the morning trade at around 11.30 am (IST). Meanwhile, the scrip hit its 52-week high of Rs 1099.95. On the other hand, Jain Irrigation Systems gained nearly 2% to Rs 72.30 at around the same time.
Mangalam Sees advanced 6.81% to Rs 264.95, while JK Agri Genetics gained 2.24% to Rs 447.20. On the other hand, the benchmark BSE Sensex traded 121 points, or 0.15% down at 80,380 at around the same time. Heavy selling in metal counters, consumer durables and oil & gas dampened market sentiment.
The BSE Metal index plunged nearly 1.50% in the morning trade, while the BSE Oil & Gas index traded 1.36% lower at 30,356.
Shares of education-related firms also traded higher after the Finance Minister announced that financial support for loans up to Rs 10 lakh for higher education.
Aptech advanced 1.54% to Rs 210.45. CL Educate and NIIT Learning Systems were up 0.57% and 0.50%, respectively.
Bhupendra Bahadur Tiwari, Professor and Director, CMR University, Bengaluru said, “This budget marks a pivotal moment for the education sector, with substantial investments aimed at revamping our education system. Enhancing vocational training and focusing on STEM education can propel India towards becoming a global knowledge hub. It’s imperative, however, to monitor the implementation of these initiatives closely to ensure they reach the intended beneficiaries. Collaborative efforts between the government, private sector and educational institutions will be key to achieving these ambitious goals.”