Fertilizers
Rs 1.71 lakh crore may double! Fertiliser stocks rally on subsidy windfall hopes
Mumbai/IBNS: Shares of fertiliser companies rallied on Wednesday after the Ministry of Chemicals and Fertilisers reportedly sought a 100 percent increase in the subsidy budget to offset rising input costs triggered by the ongoing conflict in West Asia.
Subsidy Outlay May Double
If approved, the proposal would effectively double the current fertiliser subsidy allocation of Rs. 1.71 lakh crore, providing significant support to the sector amid concerns over rising raw material and energy costs.
Fertiliser Stocks Gain
Among the listed companies, Chambal Fertilisers and Chemicals Ltd. emerged as the top gainer, rising 4.23 percent to Rs. 474 per share.
Fertilisers and Chemicals Travancore (FACT) climbed 3.26 percent to Rs. 904.65, while National Fertilizers Ltd. advanced 3.08 percent to Rs. 76.65.
Other notable gainers included Coromandel International Ltd., Rashtriya Chemicals & Fertilizers Ltd., and Gujarat State Fertilizers & Chemicals Ltd.
Paradeep Phosphates Bucks Trend
Paradeep Phosphates Ltd. was the only major fertiliser stock trading in the red, slipping 0.21 percent to Rs. 126 per share.
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