Monsanto hits new high

Monsanto India hit a new 52-week high today at Rs.7444.35 and though it has come off this high, it remains in the green, up almost 2% at Rs.738.

The stock hit a high on news that it’s US parent company has discovered unauthorised genetically modified wheat growing in Oregon, a new GM wheat strain under development. It stated that it is developing a new form of Roundup Ready wheat, resistant to Monsanto’s herbicide Roundup (glyphosate) and also focused on improving yield.