 "Coromandel")
After underperforming the benchmark indices for the last couple of years, the Coromandel International stock has been hitting 52-week highs recently. It hit a fresh 52-week high of Rs 340.8 on Tuesday before closing at Rs 339. This is on expectation that good monsoon after two consecutive years of weakness should rub off positively on agriculture growth and inventory liquidation in the current rabi season. Declining raw material prices and timely payment of subsidy, too, are expected to help.
What has aggravated the situation for fertiliser companies, in addition to poor monsoon, is higher international fertiliser and raw material prices, excess
