Fertiliser shares rises as no major impact seen on gas price hike

Chambal Fertilisers, Rallis India, RCF and National Fertilisers are up 2-7% on BSE.

Shares of fertilizer companies have moved higher by over 4% after the Finance Minister, at a press conference today, said that  the government would consider offering subsidies to power and fertiliser industries to soften the impact post the steep hike in natural gas prices from April 1.

"The power and fertiliser ministries have raised the issue. We can look at fixing the input costs for these sectors. The issues will be addressed in course of time," the Reuters report suggests quoting Finance Minister P. Chidambaram.

Among the individual stocks, Chambal Fertilisers has rallied 7% to Rs 35.80, followed by Rallis India (6% at Rs 137), RCF (4% at  Rs 32.50), Coromondel International (4% at Rs 176) and National Fertilisers (2% at Rs 34.60) on BSE.

Meanwhile, the Cabinet Committee on Economic Affairs on Thursday approved the disinvestment of 7.64% of the paid-up capital of National Fertilisers.