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LATEST NEWS UPDATES | Monsoon forecast lifts up mood: As agri shines, will it rain returns for these stocks?

Monsoon forecast lifts up mood: As agri shines, will it rain returns for these stocks?

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published Published on Apr 6, 2018   modified Modified on Apr 6, 2018
-The Financial Express

After private weather forecaster Skymet on Wednesday predicted normal monsoons In India, research firm HSBC says that it will provide a boost to the agricultural sector. Interestingly, Skymet has forecast a a 20% chance of above normal monsoon, and a 5% probability of excess rain in 2018-19. HSBC notes that the agriculture sector is slated to benefit from it, as 70% of the total rainfall is attributable to the monsoon season.

In an interview to ET Now, Deepak Shenoy, founder of Capital Mind, said that when the monsoon numbers have an important bearing  on most two-wheeler sales expectations. “We will wait for the later half of this month and get a better idea. We want to be long on two-wheeler players, especially anyone getting into the electric space,” Deepak Shenoy told ET Now.

So which stocks is HSBC betting on? UPL, BayerCropScience and Dhanuka Agritech remain our top picks, the firm said in a report. UPL shares were trading at Rs 756.75, up by more than 2% on BSE this morning. Dhanuka Agritech shares were trading at Rs 594, up by nearly 1%.

Brokerage firm Prabhudas Lilladher sees FMCG behemoth HUL, Hero MotoCorp in bikes or LG or Samsung to benefit from a combination of good monsoon, higher crop prices, farmer loan waiver in a few states and financial inclusion led by Jan Dhan accounts, as rural India gears up to spend more on housing, consumer goods two-wheelers.

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The Financial Express, 5 April, 2018, http://www.financialexpress.com/market/monsoon-forecast-lifts-up-mood-as-agri-shines-will-it-rain-returns-for-these-stocks/1122139/


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