The shares of fertilisers companies such as Chambal Fertilisers, National Fertilisers, Rashtriya Chemicals and Fertilisers and Coromandel International are trading higher by more than 2% each on hopes of decontrol in urea prices.
According to media reports, the Prime Minister's Office (PMO) has asked the fertiliser ministry to accelerate the urea decontrol policy.
Earlier, on August 5, the Group of Ministers on Fertiliser, headed by Finance Minister Pranab Mukherjee, had referred the proposed urea decontrol policy to the Cabinet Committee on Economic Affairs (CCEA) for approval as there was strong opposition from various ministries, added the report.
Among individual stocks, Chambal Fertilisers has rallied 5% to Rs 96.30, National Fertilisers and Rashtriya Chemicals and Fertilisers are trading higher by 4% each and Coromandel International by 2% on the BSE.
