Fertiliser stocks gain up to 10% as stagnant urea prices will benefit firms

Shares gain up to 10% as stagnant urea prices will benefit companies

Shares of fertiliser companies gained up to 10 per cent on Thursday, following a three-year extension in the existing urea policy. The share price of Nagarjuna Fertilisers surged the highest, by 10 per cent to Rs 18.45. National Fertilizers gained five per cent to Rs 59.25 and Rashtriya Chemicals and Fertilizers soared 4.1 per cent to Rs 79.80. Scrips of Chambal Fertilisers and Deepak Fertilisers, also moved up by two per cent and 1.7 per cent, respectively.
 
“The upsurge in share price of fertiliser companies can be attributed to the Cabinet’s decision to extend the urea policy by three