Know why agriculture-related companies are rising

Irrigation and agriculture-related companies rose after the government took major financial steps to alleviate the rural farming crisis in the country. Dhanuka Agritech, Jain Irrigation and Shakti Pumps showed gains.

The government allotted an additional 50,000 crore rupees over five years to improve the irrigation network across India at a time when monsoon rains have been less than satisfactory across rain-fed farms. This allocation will help farmers invest in new equipment and improve crop yields.

Dhanuka Agritech added 3 percent to 623 rupees with more than 15,400 shares changing hands. Jain Irrigation surged 5.2 percent to 40.40 rupees. Nearly 12 lakh shares were traded. Shakti Pumps rose 3.8 percent to 197.60 rupees with 1.4 lakh shares traded.

Prime Minister Narendra Modi has also taken steps to improve the irrigation network at state and district levels. Each district will now map its canal system which will fit into a state-wide infrastructure map of the zone, Finance Minister Arun Jaitley told reporters in Delhi.

(Image credit: Indiatimes)