Fertiliser stocks ride high on subsidy hike: Here're the top gainers

Fertiliser stocks rallied around 11 per cent on the bourses on Thursday, in intra-day trade, after the Centre increased its share of subsidy for di-ammonia phosphate (DAP) by 140 per cent from to Rs 1,200 per bag.

Though the stocks gave up part of the gains as the day closed, the net increase was 5.5 per cent. Analysts say the hike in DAP subsidy will have a positive rub-off on fertiliser and agri-input companies.

The international prices of phosphoric acid and ammonia, key components for DAP, have been rising over the past year. According to data, ammonia prices are up