Fertilizer Companies rose high on Share Market Charts

After the government announced to stick with the current DBT subsidy on fertilizers, the result was shown at the share market. According to Chemical and fertilizer ministry, Under the fertilizer DBT system, 100% subsidy on various fertilizer grades shall be released/is being released to the fertilizer companies, on the basis of actual sales made by the retailers to the beneficiaries. The fertilizer industry flamed up with points on the share boards of NSE and BSE. The companies which named themselves as the top gainers have been named below. The shares saw green numbers after Cabinet Committee on Economic Affairs (CCEA) approved the proposal of the Department of Fertilizers to continue the urea Subsidy Scheme up to 2019-20 at a total estimated cost of Rs 1,64,935 crore and for disbursement of fertilizer subsidy.

The vibrant growths that were witnessed are with the following fertilizer companies. Shares of Nagarjuna Fertilizers topped the chart with a rise of upto 9.23 percent, National Fertilizer saw a rise of up 6.39 per cent, Rashtriya Chemicals & Fertilizers witnessed a growth of about  5.02 percent and Fertilizers & Chemicals Travancore  has a growth of upto  4.94 percent. 

Other than these top gainers, the other companies also saw growth in their share market. Shares of Khaitan Chemicals & Fertilizers  rose up by  4.28 per cent, ZUARIAGRO raised up by  3.61 per cent), Coromandel International  rose up 3.00 per cent, Chambal Fertilisers & Chemicals by  2.78 per cent, G S F C by  2.42 per cent, Mangalore Chemicals & Fertilizers (up by  2.41 per cent) and Deepak Fertilizers & Petrochemicals (up by 1.93 per cent) were also among the gainers.