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The Jain Irrigation stock has jumped 13.42 per cent over one month and 3.5 per cent over the past week on the back of institutional buying. On Tuesday, it gained 0.28 per cent to close at Rs 431. Citigroup recently hiked its stake in the company to 5.83 per cent.

According to market participants, the stock has been witnessing steady accumulation in anticipation of sops and higher outlay to the agricultural sector in the Budget. As the company is involved in the entire agri value chain and is a major player in micro-irrigation, plastic pipes and fruit and vegetable processing, any thrust on agriculture will boost its topline, said brokers.

Expectations that it is likely to get orders from a few State Governments, including Rajasthan and Tamil Nadu, for micro-irrigation has also buoyed sentiment. Recently, Rajasthan Chief Minister Ms Vasundhra Raje visited the company's hi-tech agricultural institute and food processing manufacturing facilities and invited the company officials to explore possibilities in Rajasthan.

K.S. Badri Narayanan

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