Fertiliser stocks gain on hope of payments by govt

Reuters Market Eye - Shares in fertiliser companies surge on hopes the new government will soon clear its 2013/14 outstanding subsidy payments for the sector, dealers say.

Chambal Fertilisers and Chemicals surges 6.5 percent, Rashtriya Chemicals and Fertilizers is up 6 percent while National Fertilizers jumps 10 percent.

Industry officials estimate subsidies owed by the government to be more than 350 billion rupees ($5.90 billion).

(Reporting by Abhishek Vishnoi)