Fertilizer shares rally on hike in urea prices

RCF, National Fertilizer, Deepak Fertilizers, Chambal Fertilizers, National Fertilizers and GNFC are up over 5% each on the BSE

Shares of fertilizer companies such as Rashtriya Chemicals and Fertilizers (RCF), National Fertilizer, Deepak Fertilizers, Chambal Fertilizers, National Fertilizers and GNFC have rallied more than 5% each on reports that Cabinet clears direct urea subsidy transfer and mobile fertilizer management system. The Cabinet also approves hike in urea prices by Rs 50 per tonne.

Among the individual stocks, RCF has rallied 7% to Rs 60.30 on back of two-fold surge in trading volumes. A combined 3.7 million shares have already changed hands on the counter so far on the NSE and BSE.

Deepak Fertilizers has rallied up to 8% at Rs 144, followed by Chambal Fertilizers and National Fertilizer has up by 6% each at Rs 73.80 and Rs 84.10 respectively.