Both parties plan to execute the formal agreement before the close of this calendar year and the supply arrangement comes into effect from 1st April 2023.
Barring, Chambal Fertilizers & Chemicals, which has shed 19 per cent on YTD basis, most of the other fertilizers stock have logged gains so far in 2022. Deepak Fertilisers has zoomed 148 per cent.
If the Nifty small-cap index manages to leap over the 200-day moving average (DMA), this would trigger a positive sentiment in most of the small-cap stocks
Some of the key positives include strong growth prospects of the TAN business, high regulatory entry barriers, improving capacity utilisations, and a strong uptick in return ratios
Sun Pharmaceutical Industries is the only other stock among the Sensex 30 and Nifty 50 that trades in the overbought category, technically.