 "Fertiliser shares rally up to 16% ahead of Cabinet meet")
Shares of fertiliser companies rallied by up to 16% on the bourses ahead of the Union Cabinet meeting today to discuss change in urea subsidy.
Madras Fertiliser, Rama Phosphates, Rashtriya Chemicals and Fertilizers (RCF) and Fertilizers and Chemicals Travancore (FACT) surged more than 10% each on BSE as compared to 0.19% decline in S&P BSE Sensex at 01:22 pm.
“The Union Cabinet is expected to consider a change in the New Urea Policy of 2015, to enable disbursal of higher subsidy to companies which perform better, based on the import parity price (IPP),” the Business Standard report suggests.
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A panel of ministers at a meeting scheduled for Friday is also expected to approve unrestricted export of all certified organic agricultural products, added report. CLICK HERE TO READ FULL REPORT
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| RAMA PHOSPHATES | 89.80 | 77.70 | 15.6 |
| MADRAS FERT. | 19.00 | 16.55 | 14.8 |
| F A C T | 42.40 | 37.00 | 14.6 |
| R C F | 82.50 | 74.60 | 10.6 |
| CHAMBAL FERT. | 88.90 | 83.85 | 6.0 |
| BASANT AGRO TECH | 7.37 | 6.96 | 5.9 |
| S P I C | 23.80 | 22.50 | 5.8 |
| KHAITAN CHEMICAL | 16.15 | 15.35 | 5.2 |
| ZUARI GLOBAL | 127.65 | 121.35 | 5.2 |
| ARIES AGRO | 156.45 | 149.00 | 5.0 |
| NAGARJUNA FERT. | 19.42 | 18.50 | 5.0 |
| ZUARI AGRO CHEM. | 364.55 | 349.80 | 4.2 |
| DEEPAK FERT. | 264.15 | 254.75 | 3.7 |
| NATL.FERTILIZER | 77.90 | 75.30 | 3.5 |
| G S F C | 128.75 | 125.10 | 2.9 |
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