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Reports of Dhanuka Pesticides Ltd planning to expand its seeds business has lent momentum to the company's stock on the bourses. The stock ended the day at Rs 89.70, up 0.34 per cent, on the BSE.

The company has a presence in soyabean, paddy, cotton, wheat and vegetables seeds. Market sources said that in a bid to de-risk its business, it is proposing to merge group company Northern Minerals Ltd, with itself. This is expected to augment seed business significantly. At present, revenues from seeds business are around Rs 7-8 crore.

Analysts maintain that the country's seeds business is expected to see a two-fold increase in the next five years to Rs 10,000 crore. Seeds business is more profitable compared with pesticides, which is subjected to the vagaries of monsoon rains.

Deeptha Rajkumar

More Stories on : Stock Markets | Stocks | Ear to the ground | Seeds

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