Fertilizer companies’ stocks advanced ahead of an important Cabinet Committee on Economic Affairs (CCEA) meet which will likely discuss a proposal to hike urea price.
"The government may raise the urea price by 10% with an aim to cut up to Rs 2,000 crore on the total subsidy outgo on urea," said media reports.
Shares of Videocon Industries ended at Rs.1,349.75 up 2.6% over the previous close. It had touched a day’s high of Rs.1,371.35 and a day’s low of Rs.1,301. The total traded quantity of the shares stood at nearly 8.67 lakh shares on the BSE.
Chambal Fertilisers & Chemicals was trading at Rs.78.85 up 3.4%
Coromandel International was trading at Rs.256.25 up 1.7%
National Fertilizers was trading at Rs.85.85 up 3.9%
Rastriya Chemicals & Fertilisers was trading at Rs.60.20 up 3.3%
Tata Chemicals was trading at Rs.317.70 up 1.5%
Gujarat State Fertilizers & Chemicals was trading at Rs.418 up 0.4%
Gujarat Narmada Valley Fertizers Company was trading at Rs.82.50 up 0.9%