Between March 18 and March 20, 2026, Gujarat Narmada Valley Fertilizers & Chemicals, the promoter, bought 734,369 equity shares or 1 per cent stake of Gujarat Alkalies via open market purchase.
The catalyst for this rally in fertiliser shares was the anticipated increase in the price of Di-Ammonia Phosphate (DAP), the second most widely used fertiliser in India after urea
The risk of a breach of the government's fiscal deficit target could play a spoilsport for the sector as it could prompt the Centre to cut back on subsidy support, analysts believe.
