Fertilizer stocks rally on urea policy clearance

Stocks

oi-Sunil

By Sunil Fernandes

Published: Friday, December 14, 2012, 19:07 [IST]

Fertilizer stocks were in the limelight in an otherwise dull market on reports that the government had cleared the urea policy.

This could lead to fresh investments in the sector according to market analysts. Fertilizer and Chemicals Travancore surged almost 17% and was last trading at Rs 32.15, while Rashtriya Chemicals and Fertilizers was up 3% at Rs 56.10.

Other stocks that gained include Liberty Phosphate (up 6%) , Southern Petrochemicals Industries Corporation ( up 1.5%) and GNFC (up 3%).

Fertilizer stocks have been one of the laggards as far as returns are concerned given the policy controls by the government.They have hardly given investors any returns and the present move by the government is a welcome measure for the industry.

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