Fertiliser Stocks Gain Upto 12% Ahead OF Budget 2024 Amid Strong Rural Emphasis

Fertiliser stocks today witnessed sharp rally of nearly 12% as experts anticipate strong emphasis on enhancing rural consumption through higher spending on government's flagship programmes. A boost in rural consumption is likely to help fertiliser companies as it is expected to enhance spending by farmers on crop protection. Earlier, fertiliser firms announced disappointing earnings in FY 2024 amid slow demand, weak prices, and arrival of low-cost Chinese supplies in the world market. It led to fall in profitability impacting both the net profit and revenue of leading companies, according to experts. Meanwhile, recovery signs have reportedly started becoming visible in latest quarters with prospects of a revival in demand in the latter half of ongoing fiscal.

The fertilisers stocks that registered strong rally in today's trade amid these reports include Rashtriya Chemicals & Fertilizers Ltd, Fertilizers & Chemicals Travancore Ltd, Atul Ltd, National Fertilizers, Gujarat State Fertilizers, and Coromandel International. Check details below:

1. Rashtriya Chemicals & Fertilizers Ltd shares gained 11.10% at the time of writing the story. Current market price of Rashtriya Chemicals & Fertilizers share on BSE is Rs 237.70 per share. The company's market cap stood at Rs 12,937.09 crore. Rashtriya Chemicals shares soared 106% in last 1-year and 62% in last 3-months. In last 2-years, Rashtriya Chemicals stock surged 169%.

2. Fertilizers & Chemicals Travancore shares gained 6.89% in noon trade. Current market price of Fertilizers & Chemicals Travancore share price on BSE is Rs 1087.10 per share. Its market cap is Rs 70,705.55 crore. Fertilizers & Chemicals Travancore shares rose 62% in last 3-months and gained 122% in last 1-year. In last 2-years, Fertilizers & Chemicals Travancore shares offered stunning returns of 923%.

3. Atul Ltd shares jumped 5.08% at 3:11 pm on July 22. Current market price of Atul Ltd share on BSE is Rs 7296.20 per share. Its market capitalisation stood at Rs 21,481.29 crore. Atul Ltd shares offered 24% in last 3-monhts and jumped 4% in last 1-year. In last 2-years, Atul Ltd shares fell over 15%.

4. National Fertilizers shares gained over 10% today on BSE. Current market price of National Fertilizers share on BSE is Rs 160.55 per share. National Fertilizers shares surged 55.87% in last 3-months and offered 125% return in last 1-year. In last 2-years, National Fertilizers shares rallied 247%. Its market cap is 7876.24 crore.

5. Gujarat State Fertilizers shares rallied 2.93% in trade today on BSE. Current market price of Gujarat State Fertilizers shares on BSE is Rs 247.85. Its market cap is Rs 9876.27 crore. Gujarat State Fertilizers shares declined 22% in last 6-months and gained 48% in last 1-year.

6. Coromandel International shares rose 0.92% in trade today with current market price of the stock stood at Rs 1610.10 per share. The company has a market capitalisation of Rs 47,417.54 crore. Coromandel International shares rose 47% in last 3-months and zoomed 63% in last 1-year. Coromandel International stock spiked 324% in last 5-years.