RCF, Chambal Fertiliser, FACT are some of the prominent gainers.
Shares of fertiliser companies are in focus today owing to media reports of making fuel prices more affordable to these companies in the upcoming Union Budget.
According to reports, the oil ministry has proposed to pool or average out prices of domestic natural gas and imported LNG used by fertiliser plants to make the cost of fuel uniform and affordable. The ministry has also asked for service tax on imported LNG for pool to be waived.
Following which, the fertilisers shares are trading on a higher note today. Southern Petrochemical has zoomed 5 per cent to Rs. 21.05.
Rashtriya Chemicals & Fertilisers (RCF) and National Fertilizers have surged over 4 per cent each to Rs. 73 and Rs. 41.50, respectively.
Chambal Fertilisers & Chemicals and Fertilizers and Chemicals Travancore (FACT) have rallied nearly 3 per cent each to Rs. 71.80 and Rs. 34.60, respectively.
Gujarat State Fertilizers & Chemicals (GSFC) and Gujarat Narmada Valley Fertilizers are also up over a per cent each.
Meanwhile, the Sensex has recouped some of the losses and is now down 57 points at 29,263
Shares of fertiliser companies are in focus today owing to media reports of making fuel prices more affordable to these companies in the upcoming Union Budget.
According to reports, the oil ministry has proposed to pool or average out prices of domestic natural gas and imported LNG used by fertiliser plants to make the cost of fuel uniform and affordable. The ministry has also asked for service tax on imported LNG for pool to be waived.
Following which, the fertilisers shares are trading on a higher note today. Southern Petrochemical has zoomed 5 per cent to Rs. 21.05.
Rashtriya Chemicals & Fertilisers (RCF) and National Fertilizers have surged over 4 per cent each to Rs. 73 and Rs. 41.50, respectively.
Chambal Fertilisers & Chemicals and Fertilizers and Chemicals Travancore (FACT) have rallied nearly 3 per cent each to Rs. 71.80 and Rs. 34.60, respectively.
Gujarat State Fertilizers & Chemicals (GSFC) and Gujarat Narmada Valley Fertilizers are also up over a per cent each.
Meanwhile, the Sensex has recouped some of the losses and is now down 57 points at 29,263
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