Shares in Indian fertiliser companies surge. Rashtriya Chemicals and Fertilizers up 5.2 pct, National Fertilizers gains 6.1 pct, Zuari Agro Chemicals surges 12.7 pct and Chambal Fertilisers Chemicals adds 4.8 pct.
Cabinet on Tuesday approved supply of gas for urea production at a uniform price to fertiliser plants. The move is regarded as sector-positive, and was long awaited, stated analysts.
“We believe the pooling mechanism is a precursor to urea decontrol,” Edelweiss Securities.