Post Budget Reaction - Mr. Rajesh Agarwal, Managing Director, Insecticides India Limited

"The budget's special thrust on the rural economy and farmer welfare is very encouraging, particularly at a time when the agricultural economy has been affected because of deficit rainfall. There is little doubt that with 60% of our population into the agriculture and allied activities, a boost to this sector can accelerate the Indian monsoon. We can say that the government has shed its perceived urban bias and delivered a pro-farmer budget with a substantial allocation of Rs 35,984 for the distressed agriculture sector as well as farmer welfare.

Lack of irrigation is a major problem confronting the excessively rainfall dependent agri sector in India. In this context an important budget announcement has been on the front of increasing area under irrigation by 28.5 lakh hectares as well as a commitment of Rs 6,000 crore for recharging of ground water specially in drought hit areas. Apart from this, the Rs.15,000 crore allocation for interest subvention for agri loans will certainly offer relief to a large chunk of distressed farmers and help in reviving the rural economy." Says Mr. Rajesh Aggarwal, Managing Director, Insecticides India Limited.

Shares of INSECTICIDES (INDIA) LTD. was last trading in BSE at Rs.327 as compared to the previous close of Rs. 318.8. The total number of shares traded during the day was 5904 in over 109 trades.

The stock hit an intraday high of Rs. 334 and intraday low of 323. The net turnover during the day was Rs. 1930835.

Source : Equity Bulls

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