India's Bayer CropScience hits record high as timely monsoon drives Q1 profit

Bayer Cropscience

07/08/2020 07:22

** Shares of agro chemical manufacturer  BAYE.NS  rise as
much as 14.5% to record high of 6,450 rupees
    ** Thane, Maharashtra-based co's June-qtr profit nearly
doubled to 2.52 bln rupees, helped by strong demand for products
due to timely sowing  urn:newsml:reuters.com:*:nFWN2F80ZR
    ** Farmers procured seeds and crop protection products due
to on-time arrival of monsoon - BAYE
    **  Lower labour availability, remunerative crop prices and 
well-distributed monsoon will drive crop protection segment
growth - Brokerage Prabhudas Lilladher in a note
    ** About 126,600 shares change hands, 5x 30-day avg of
~24,800
    ** BAYE shares up ~58% so far this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))