Hope of healthy demand drives fertiliser stocks upward
DSIJ Intelligence / 02 Aug 2017
Fertiliser stocks have gained up to 12% in the morning hours on Wednesday on the back of hopes for healthy demand of fertilisers during the first half of the FY18.
Fertiliser stocks have gained up to 12% in the morning hours on Wednesday on the back of hopes for healthy demand of fertilisers during the first half of the FY18.
Rashtriya Chemicals and Fertilizers (RCF) was the top gainer in the fertiliser industry, trading at Rs 98.25 per share, up by 11.52%. Nagarjuna Fertilizers and Chemicals Ltd. was up by 9.95% at Rs 15.25 per share.
Chambal Fertilisers was up by 5.71%. Other fertiliser stocks like Bharat Agri, FACT, Rama Phosphates and Shiva Global Agro Industries are also gaining more than 4%.
The monsoon has shown a satisfactory performance till now in line with the IMD’s forecasts. Therefore, it is likely to raise the fertiliser demand leading to growth in kharif sowing. Fertiliser companies are likely to see greater profitability in FY18.
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