Fertilizer shares in demand; Zuari Agro soars 20 pc

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Fertilizer stocks were in demand today with shares of Zuari Agro Chemicals leading the pack with 20 per cent gains.
Fertilizers and Chemicals Travancore counter zoomed 19.83 per cent on the BSE. Similar buying was seen in Rashtriya Chemicals and Fertilizers that surged 10.78 per cent, National Fertilizers (8.03 per cent) and Chambal Fertilisers & Chemicals (3.42 per cent).
The Fertilizer Ministry has invited fresh proposals for setting up urea plants as well as increasing the capacity of existing ones under the recently notified New Urea Investment Policy for increasing domestic production.
In February, the Cabinet had approved amendments in the policy after 13 players including IFFCO, RCF and Tata Chemicals proposed new urea plants entailing capacity addition of 16 million tonne.

The annual demand of urea in the country is around 30 million tonnes, whereas the domestic production is around 22 MT. The rest is met through imports.
"The new urea investment policy has already been notified and now we have invited fresh proposals from the companies for setting up or increasing their current capacity," a source told PTI.