Shares of Coromandel International, Deepak Fertilisers, GSFC, Madras Fertilisers, National Fertilisers, RCF, and Zuari Agro Chemicals have soared up to 196 per cent so far this calendar year (CY22)
The overall trend in the fertiliser space remains bullish, with stocks like Chambal Fertilizers & Chemicals, Aries Agro and National Fertilizers indicating strong upside ahead
A K Prabhakar, head of research at IDBI Capital, for instance, sees more headroom in stocks of fertiliser companies, especially those that have backward integration as well
The company reported a 3.3-fold jump in Q1 net profit at Rs 435.66 crore, following which the stock has rallied smartly in the last seven trading sessions.
The risk of a breach of the government's fiscal deficit target could play a spoilsport for the sector as it could prompt the Centre to cut back on subsidy support, analysts believe.
With Sri Lankan famers waiting for fertiliser to start the Yala season, India has decided to extend a Line of Credit (LOC) of $55 million to Sri Lanka for the procurement of urea.
Stating that there is more stock for supply of fertilisers for this kharif season than the demand this year, the Centre asked the states to not create either a panic situation or spread misinformation
Fertilizer shares have been the outperformers so far in 2022, gaining up to 100%; While the bullish sentiment seems overrated, charts indicate continuation of the uptrend.
Indian fertiliser stocks jumped after a report the government plans to increase fertiliser subsidies to a record of more than 1.55 trillion rupees ($20.67 billion) in 2021-2022
The increased scrutiny comes as global fertilisers costs have soared to new records, spurred by energy crises in Europe and China as coal and natural gas are important feedstocks
Indiabulls Housing Finance on Wednesday reported a two-fold jump in its profit after tax to Rs 276 crore in the quarter ended March 2021 helped by stable asset quality
