ibnlive » Business

Oct 14, 2006 at 07:43pm IST

Farmers move from seeds to stocks

Mumbai: In the past 20 years Pushkar's business has grown manifold. But these days he visits his fields only to monitor the harvest. He's equally interested in monitoring stock indices.

That's what he invests two or three hours a day on. And he's just one of many farmers.

"I have been in the stock market for the past five years. It gets me 25 to 30 per cent returns," says Pushkar.

The Nashik Share Brokers Association says daily transactions in its district amount to Rs 300 crore. Even though it's difficult to say exactly how much farmers contribute, their share is increasing.

Some invest in frontline stocks while others prefer risks.

"I find out what is in demand in the market. This has paid me great dividends," says Pushkar.

Most farmers invest upto 30 per cent of their savings in shares as a hedge against bad monsoons. And now they're reaping many happy returns.