Fertiliser shares rally

Shares of seven fertiliser companies rose by 0.86% to 8.99% at 13:52 IST on BSE after the Ministry of Chemicals and Fertilizers said that there is no shortage of fertilizers in the country.

National Fertilizers (up 8.99%), Gujarat State Fertilizers Company (up 3.67%), Chambal Fertilisers & Chemicals (up 5.57%), Rashtriya Chemicals and Fertilisers (up 6.62%), Zuari Global (up 3.24%), Deepak Fertilisers & Petrochemicals Corporation (up 2.29%) and Tata Chemicals (up 0.86%) edged higher. Coromandel International shed 0.68%.

Meanwhile, the BSE Sensex was up 129.67 points, or 0.45%, to 29,265.55

In the month of February 2015, against the requirement of 16.71 lakh metric tonnes (MT) of urea, the supply plan has been made for 29.6 lakh MT out of which 14.71 lakh MT has already been made available till 15 February 2015, the Ministry of Chemicals and Fertilizers said after trading hours on Monday, 16 February 2015. Stock markets remained closed yesterday, 17 February 2015, on account of Mahashivratri. To ensure adequate availability of urea during the ensuing Kharif season of 2015, the Department of Fertilizers has planned in advance to procure 10.5 lakh MT of urea in February and March 2015 in the tender floated through MMTC in January 2015.

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