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Fertiliser Stocks Trade Lower By Over 6% After Passage Of Farm Bills
Most fertilizer stocks trade lower on September 21, 2020 even as the Farmer's Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, and the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 are hailed to transform agriculture and empower millions of peasants.
Motillal Oswal in a report released today said, "These reforms have the potential of opening up many private mandis that are far more efficient, automated and mechanized, thus, replacing age-old practices in the Statesponsored mandis. Contract farming would provide farmers access to modern technology, ready markets for its agri produce and better inputs. Overall, the reforms should benefit farmers and encourage contract farming, which in turn, is expected to prove advantageous for the agrochemical/fertilizer sectors".
Fertiliser stocks that are dragged lower today:
| Stock | % Decline | Day's low price on September 21, 2020 |
|---|---|---|
| Coromandel International | 2.46% | Rs. 790.6 |
| Deepak Fertilisers & Petrochemicals Corp. | 5.9% | Rs. 155 |
| Chambal Fertilizers | 2.4% | Rs. 153 |
| Gujarat State Fertilizers & Chemicals Limited (GSFC) | 4% | Rs. 58.05 |
| Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC) | 6.65% | Rs. 208.5 |
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