RCF, Chambal Fertilizers, GNFC: Charts suggest upside for fertiliser stocks

Fertiliser sales surged by almost 98 per cent year on year in May 2020, according to government data

The government has touted the agricutural sector as the one which will support the 'rebooting of the economy'. In fact, last month, when the Finance Ministry released the data regarding a select few indicators to assert that the economy was rebounding after seven weeks of lockdown, it included food grain procurement, electricity and fertiliser consumption, among other things.

“With a forecast of a normal monsoon, the agricultural sector should support the rebooting of the economy. Though GDP contribution of the sector may not be very large, its growth has a very positive impact on the large population dependent on