Fertiliser Shares Gain After Government Extends Urea Subsidy, Implements DBT

Shares of the fertiliser makers were trading higher after the government approved a proposal to extend urea subsidy till 2020 and implement direct benefit transfers (DBT) for disbursement of the fertiliser subsidy. 

The urea subsidy has been extended for three years till 2020 at a total estimated cost of Rs 1.64 lakh crore, the government said.

❤ Madras Fertilizers up 4.88 percent

❤ National Fertilizers up 5.24 percent

❤ Chambal Fertilisers up 1.60 percent

❤ Rashtriya Chemicals & Fertilisers up 4.58 percent

❤ Fertilisers & Chemicals Travancore up 4.41 percent

❤ Zuari Agro Chemicals up 3.24 percent

❤ Nagarjuna Fertilisers 8.68 percent

❤ Southern Petrochemical Industries up 2.46 percent

❤ Mangalore Chemicals & Fertlisers up 2.40 percent