Above normal monsoon predicted: stocks to watch out

In what can bring cheer among all the fellow countrymen, the recent prediction by IMD on above normal monsoon expectations to foster the current optimism in equity markets. The good news is that the rainfall is expected to be well distributed across India.
 
Markets are also rallying up based on IMF report suggesting India as an oasis in the current global economic condition and good monsoon prediction which may lead to higher agriculture produce this year.The prediction has already triggered traction in various agri related stock. Stocks like PI industries, UPL, Jain irrigation have already gained some ground with positive momentum getting built up around these set of stocks, expected to benefit from above normal monsoon this year. According to Mayank Singhal, MD & CEO of PI industries, the company expects increase in demand for its products due to positive sentiment in the market based on above normal monsoon predictions.
 
UPL Limited stock has gone up by almost 12 per cent in less than one week since the expectation of good monsoon started getting built up. PI Industries is up by almost 17 percent in same period. The stocks related to agri sector have gained anywhere between 5 percent to 20 percent within a week based on the optimism on good monsoon. Investors may increase allocation to stocks related to agri sector after studying the fundamentals of these company.