Fertilisers shares gain on hopes of normal monsoon
RCF, National Fertilisers, Chambal Fertilisers, Coromandel International and Deepak Fertilisers are up 2-9% on BSE.
Shares of fertilisers companies have rallied up to 9% in otherwise weak market on hopes of normal monsoon which will boost demand for fertilisers.
Rashtriya Chemicals & Fertilizers (RCF), National Fertilisers, Chambal Fertilisers and Chemicals, Coromandel International and Deepak Fertilisers and Petrochemicals Corporation are trading higher in the range of 2-9% on the Bombay Stock Exchange.
The benchmark index however, was down 0.52% or 100 points at 19,069 at 1358 hours.
“This year, the southwest monsoon in India is expected to be normal, at about 100% of the long period average (LPA),” the Business Standard report suggests quoting a senior government official.
It is expected the India Meteorological Department would release its official forecast for the 2013 southwest monsoon later this week, added report.
Among the individual, National Fertilisers has rallied 9% to Rs 50 on BSE. RCF has surged 7% to Rs 41.50, followed by Chambal Fertilisers (4% at Rs 55.20) and Coromandel International (2% at Rs 198).
Rashtriya Chemicals & Fertilizers (RCF), National Fertilisers, Chambal Fertilisers and Chemicals, Coromandel International and Deepak Fertilisers and Petrochemicals Corporation are trading higher in the range of 2-9% on the Bombay Stock Exchange.
The benchmark index however, was down 0.52% or 100 points at 19,069 at 1358 hours.
“This year, the southwest monsoon in India is expected to be normal, at about 100% of the long period average (LPA),” the Business Standard report suggests quoting a senior government official.
It is expected the India Meteorological Department would release its official forecast for the 2013 southwest monsoon later this week, added report.
Among the individual, National Fertilisers has rallied 9% to Rs 50 on BSE. RCF has surged 7% to Rs 41.50, followed by Chambal Fertilisers (4% at Rs 55.20) and Coromandel International (2% at Rs 198).