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This smallcap agri stock has surged 13% today on Supreme Court judgement in its favour

market | Jan 8, 2019 2:59 PM IST

This smallcap agri stock has surged 13% today on Supreme Court judgement in its favour

Shares of Monsanto India rallied more than 13 percent on Tuesday after the agriculture company won a lawsuit in the Supreme Court for a patent on genetically modified cotton seeds. The apex court reversed a previous Delhi High Court ruling that Monsanto India could not enforce the patent for its Bt cotton seeds in India.

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In April, the Delhi High Court had held that Monsanto's patent on Bolgard II, held through its Indian arm Mahyco-Monsanto Biotech, would not be enforceable in India.
The US-based Monsanto, which is the world's biggest fibre producer, was last year acquired by Bayer AG.
Shares of Monsanto India were off from the day's high, trading at Rs 2,690, up by 4.6 percent at 2.36 pm. More than 74,000 stocks were traded on Tuesday against a six-month daily average volume of 7,786 shares.
Monsanto India shares have returned more than 4 percent in the last one year and a massive 337 percent in the last 10 years. This smallcap stock from agriculture sector has gained more than 5 percent in the last 5 days.
Meanwhile, shares of rival Kaveri Seed Company slipped nearly 4 percent. The stock recovered from the lows but still traded 1.26 percent lower at Rs 539.40 at 2.37 pm.
The broader 50-share Nifty50 traded at 10,812.50, higher by 40.70 points, or 0.38 percent at 2.40 pm. The Sensex was above 36,000, rising 150 points, or 0.42 percent.
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-with inputs from agencies
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