A new kind of bull for the farmers

Farmers are moving from seeds to stocks. In Nashik, farmers put 30% of their savings in the market as a hedge against a bad monsoon, reports CNBC-TV18.

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.

The Nasik 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 dividends," says Pushkar.

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