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Shares of Jain Irrigation Systems today gained as much as 17.2 per cent.
The stock is heading for biggest daily percentage gain since May 2014.
Jain irrigation gains 10%. The company reported a 31% jump in profits in the March quarter on Friday after the market close
— Rajalakshmi Nirmal (@crajalakshmic)
May 18, 2015The company’s January-March consolidated profit jumped 30.8 per cent from a year earlier to Rs 98.5 crore.
According to traders, monsoon remains key trigger for agriculture sector-related stocks in near term.
Since monsoon rains are to hit southern India on time, it may help sowing, they said.
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