Fertilsers shares gain on hopes of higher demand

Shares of fertilisers companies are in limelight on the bourses on hopes that the demand for fertilizers will be higher during the current financial year 2012-13 on the back of normal monsoon forecast by the MET department.

National Fertilisers, Rashtriya Chemicals and Fertilisers, Chambal Fertilisers and Zuari Industries are trading higher by 1-5% in noon trades on the Bombay Stock Exchange.

“Retail prices of fertilisers, which have stabilised since third quarter of 2011-12 fiscal, are expected to remain stable in 2012-13, Minister of State for Chemicals and Fertilisers Srikant Jena said in a written reply to the Rajya Sabha, suggests PTI reports.

“The demand for fertilisers is on the rise and is expected to be 61.27 million tonne in 2012-13, up 4% over last year,” added report.