The exit poll results have indicated that the Bharatiya Janata Party (BJP)-led NDA government is expected to return to power with absolute majority, the Modi mania seems to have gripped the markets. NDA coming back to power augurs well for the stock market which expects a stable government at the Centre. Here's a look at five agriculture-related stocks which are likely to benefit today.
- Rashtriya Chemicals and Fertilisers
- Mahindra & Mahindra (M&M)
- Tata Chemicals
- Jain Irrigation
- United Phosphorus
The market experts are recommending investors to buy argi stocks which are likely to benefit from populist government schemes. The Modi government's return to power is likely to propel these agri stocks.
Bharatiya Janata Party (BJP) in its manifesto announced on April 8 this year that it will give a push to improve the productivity of farm sector in the country. The party will launch a pension scheme for small and marginal farmers aged over 60 years and spend Rs 25 lakh crore to improve the productivity of farm sector among others announcements.
According to exit polls results, the Narendra Modi government is all set to come to power in the country with an even bigger margin than the 2014 elections. As per India Today-Axis My India Exit Poll, the Bharatiya Janata Party (BJP)-led NDA will win around 339-365 seats, while the Congress party will be reduced to 77-108 seats. The Lok Sabha polls result will be announced on May 23.
Edited by Chitranjan Kumar