Fertiliser shares dip as government cuts retail prices of non-urea fertilisers

Coromandel International was down 14% to Rs 215 on the BSE in intra-day trade, after falling 6% on Monday.

Shares of fertilisers companies have dipped up to 14% on the BSE in intra-day trade after the government announced reduction in prices of key fertilizers.

Coromandel International, Zuari Global, National Fertilisers, Zuari Agro Chemicals, Chambal Fertilisers and Rashtriya Chemicals and Fertilizers (RCF) were down more than 1% as compared to 0.15% decline in the S&P BSE Sensex.

“The retail prices of non-urea fertilisers including di-ammonium phosphate (DAP) have been slashed by up to Rs 5,000/tonne following drop in global prices of raw materials”, PTI report suggests quoting Union minister Ananth Kumar. LINK

The retail price of DAP has been cut by Rs 2,500 to Rs 22,000/tonne, muriate of potash (MoP) by Rs 5,000 to Rs 11,000/tonne, while complex fertilisers rates have been brought down by Rs 1,000/tone, added report.

Among the individual stocks, Coromandel International, the largest loser, was down 14% to Rs 215 on the BSE in intra-day trade, after falling 6% on Monday. At 10:27 AM. the stock trading lower by 8% at Rs 230.