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Fertilizer stocks rally on buzz of likely hike in urea prices

06 Jun 2012 Evaluate

Fertilizer stocks are trading optimistic on reports that government may consider urea price hike of 10%. However, there is no clarity on much awaited urea price hike as EGoM reportedly awaits the Cabinet approval for the same.

Fertilisers & Chemicals Travancore is currently trading at Rs 28.50, up by 0.30 points or 1.06% from its previous closing of Rs 28.20 on the BSE. The scrip opened at Rs 28.85 and has touched a high and low of Rs 28.85 and Rs 28.40 respectively. So far 5125 shares were traded on the counter.

Rashtriya Chemicals & Fertilizers is currently trading at Rs 58.60, up by 1.30 points or 2.27% from its previous closing of Rs 57.30 on the BSE. The scrip opened at Rs 58.25 and has touched a high and low of Rs 59.15 and Rs 58.00 respectively. So far 197239 shares were traded on the counter.

Chambal Fertilisers & Chemicals is currently trading at Rs 73.00, up by 1.15 points or 1.60% from its previous closing of Rs 71.85 on the BSE. The scrip opened at Rs 72.40 and has touched a high and low of Rs 73.55 and Rs 72.40 respectively. So far 58330 shares were traded on the counter.

The demand for fertilisers, including urea, muriate of potash and Di-ammonium phosphate (DAP), has been pegged at 21.37 million tonne for the upcoming kharif (winter) season.

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