Fertiliser stocks end mixed on 10% urea rise

All the fertiliser stocks have advanced on the back of the increase in urea prices by 10%.

Just a week before the Union Budget for 2010-11, the United Progressive Alliance (UPA) government raised the urea prices 10%.

It also allowed the industry to fix retail prices of other subsidised fertilisers, while limiting the government’s subsidy burden under a new policy that will determine the subsidy on phosphorus and potash based on their nutrients.|

This move is to take effect from April 1 and will help the government reduce its fertiliser subsidy bill, estimated at Rs 50,000 crore for the current year.

Tata Chemicals is now up 1% at Rs 294. The counter has clocked volumes of 460,000 shares on the BSE.

Coromandel International has soared 4% to Rs 277. The counter has witnessed trades of 630,000 shares on the BSE.

Nagarjuna Fertilisers and Chemicals has added 1% at Rs 36. The counter has seen trades of 1.2 million shares on the BSE.

Chambal Fertilisers has advanced 1% to Rs 72. The counter has seen trades of 1.12 million shares on the BSE.