Rice stock in granaries allays fears of shortage: PN Vijay

PN Vijay, Portfolio Manager, tells CNBC-TV18 that the less-than-normal monsoon predicted by the MET department is worrisome. However, the excess supply that we have stored in our granaries allays a part of the fear of grain shortage, he says. As for the market, it seems to be bottoming out, he says. "The markets are reacting to speculative news and discounting any good news such as the push for FDI in retail and GST. It is blindly reacting now," he observes.