Rashtriya Chemicals, Chambal Fertilisers and Deepak Fertilisers soared upto 6 per cent every on BSE
Shares of fertiliser corporations rallied in a subdued market on Thursday after the centre introduced a rise in subsidy for di-ammonium phosphate fertiliser to Rs 1,200 per bag from the sooner Rs 500 per bag. “Prime Minster Narendra Modi has said farmers should get fertilisers at old rates despite the international price rise… The welfare of farmers is at the core of government’s efforts,” the Prime Minister’s workplace stated in an announcement.
At 11:55 am, Rashtriya Chemicals & Fertilizers gained 6.25 per cent at Rs 84.60, Chambal Fertilisers & Chemicals soared 3.44 per cent at Rs 294.60 and Deepak Fertilisers climbed 4.46 per cent at Rs 297.30 on the BSE.
The costs of Di-Ammonium Phosphate (DAP) luggage have been lately hiked to Rs 2,400. But farmers will proceed to obtain them eventually 12 months’s charges of Rs 1,200 per bag on account of the revision in subsidy quantity.
The Prime Minister’s Office stated that this was the second main choice in farmers’ curiosity, after the direct switch of Rs 20,667 crore of their account beneath PM-KISAN final month on the event of Akshay Tritiya.
