Vishwas Agri Seeds share price makes a muted debut, stock opens with 1.2% discount at ₹85 apiece on NSE SME
Vishwas Agri Seeds shares debut on NSE SME at ₹85, 1.2% lower than issue price of ₹86. IPO subscription status on day three was 12.21 times. Key Points
mintGovt has strictly no plans to put MEP on all Agri commodities: Commerce Ministry
The Indian government has denied plans to impose a minimum export price (MEP) on all agricultural products, stating that it has no intention to review all Agri products from an export perspective. An inter-ministerial committee has recently decided on basmati rice, but the committee's wider mandate does not mean it will recommend MEPs for each Agri product. Key Points
Economic TimesUS DOJ files meat industry antitrust case against Agri Stats
The U.S. Department of Justice on Thursday filed an antitrust lawsuit against data company Agri Stats, alleging that its weekly reports on meat pricing and sales have enabled anticompetitive practices in the chicken, pork, and turkey industries. Key Points
ReutersSugar, FMCG sectors can be part of the portfolio now: Anshul Saigal
Kotak Mahindra AMC's CIO, Anshul Saigal, believes that the sugar industry is attractively poised due to rising prices and improved industry structure from the ethanol policy. However, the agrarian stocks like UPL, Rallis, and Tata Chemicals have consistently failed to deliver despite their potential. Saigal suggests splitting the sector into various buckets, such as agrochemicals, food-related sectors, and those that benefit from food price increases, and investing in the sectors that suit an investor's needs at a given time. Key Points
Economic TimesYokohama launches Agri Star II R agricultural tyres in India
The Agri STAR II R-I offers long tyre life, superior traction and excellent roadability. It also ensures low soil compaction. Key Points
Financialexpress
Why Finolex Indusries is expecting a pickup in H2, maintaining 15% volume guidance
Both the sectors which we participate in, the Agri segment and the construction segment, are showing fairly robust growth. In the Agri segment, we did see a little bit of drop in volumes, especially because of the volatility which we saw in the last part of Q2, but that has stabilized. And the last few weeks, we have seen significant pickup in demand in agri. Construction segment has been showing robust growth. Key Points
Economic TimesITC's first quarter has no spark to ignite another rally
Subdued demand both in domestic and export markets, competition from low priced Chinese supplies in global markets, sharp reduction in global pulp prices and high-base effect impacted its performance. Lower realisations and increase in input costs impacted the segment's profitability. Key Points
Economic TimesGram Unnati partners with Uttar Pradesh govt for Agri transformation
Spanning a timeline of three to five years its overarching goal is to elevate farmer incomes and preserve vital natural resources. The primary objectives are to significantly enhance farmer incomes by 15% to 25% and to conserve crucial natural resources, including reducing water usage for irrigation by an impressive 60% to 80%. Key Points
Economic TimesUnnati Agri attains break-even status in Oct; registers 2x growth
Unnati Agri, an agriculture supply chain and financial services startup, achieved break-even status in October 2023, achieving a 2x growth compared to the previous year. The company's financial performance was EBITDA positive, with 1.1% margins. Unnati's exclusive branded product line, including seeds, fertilizers, and crop protection solutions, experienced 8-9x year-on-year growth. Key Points
Economic TimesSanjiv Puri on 4 pillars that can take ITC to the next level of growth
Digital is now mainstreamed in our companies. It is part of everybody's job whether it is Agri sourcing or procurement or operation, manufacturing, consumer marketing, commerce, everywhere it is there. Key Points
Economic Times
Stocks from agro-related sectors might be tactical buys due to climatic and trade-related issues
It all started with climatic conditions turning adverse to rice crops in parts of Pakistan and China. Then came the issue of accessibility of ports due to the Ukraine war. It led to a sudden rise in the price of rice and some other Agri commodities. Then came the reaction of the government, ban on exports of select quality and segment of rice. Will this bring an opportunity for rice exporting companies of India and also the retail investors ? If one looks at bottomline branded rice sellers, it has been better than expected. However the Agri sector is not very well covered by analysts, not many stocks have a recommendation, probably because they are largely small and mid-cap in nature. Key Points
Economic TimesAfter India Stack, why Sitharaman proposed another stack for economic boost
The agriculture sector in India supports 42.3% of the population and contributes 18.2% to the GDP. Despite challenges, the Economic Survey 2023-24 advocates for leveraging technology and policy reforms, such as the Agri Stack initiative, to formalize the sector, boost productivity, increase farmer income, and drive economic growth. Agri Stack aims to address issues like poor land records, enhance credit access, improve data management, and facilitate better policy interventions, ultimately benefiting both farmers and the economy as a whole. Key Points
Economic TimesNova Agritech shares list at 37% premium over IPO price
Nova Agritech listed on exchanges with a 36.6% premium, debuting at Rs 56 on BSE and Rs 55 on NSE. The IPO received over 100 times subscription as non-institutional and institutional investors bid heavily. The company's solid financial track record and impressive ROE of 32.1% attracted analysts. Proceeds from the IPO will be used for subsidiary investment, capex, working capital, and investment in Nova Agri Sciences. Nova Agri Sciences contributes significantly to Nova Agritech's revenue by manufacturing crop protection products. Key Points
Economic TimesHigher educational institutes create ‘Agri-Consortium’
Indian higher educational institutes (HEIs) have joined together to form an 'Agri-Consortium', led by IIM Kashipur. The consortium aims to provide a platform for academics, researchers, students, and industry professionals to discuss trends and advancements in agriculture. The participating institutions have agreed to share startup databases, disseminate support programs, and share best practices. Key Points
Economic TimesHas Agri commodity price inflation been adjusted by the Street? 3 QSR stocks with upside potential of up t
It was the removal of tomato from burgers in some restaurants by McDonald's which brought back focus on inflation in some agricultural products and their impact on QSR space. While some of the Agri commodities are still high, will the festive season demand give the power to these companies to pass it on to consumers will be the key to watch. Key Points
Economic Times
Stock Market LIVE: Sensex, Nifty to be under pressure; SGX Nifty in red
Share Market LIVE Updates: Benchmark indices will start on a negative note amidst negative global cues and SGX Nifty trading lower. Wall Street ended down on Wednesday ahead of a vote on he debt ceiling deal. Asian markets are also trading lower in the morning session. Key Points
MintSLCM’s AI-based app Agri Reach gets NABL accreditation
The smartphone application uses artificial intelligence to conduct a quality check of agricultural products by simply taking a picture. The app analyses the image for a variety of quality metrics. Key Points
Economic Times