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Shares of nine fertiliser companies rose by 1.67% to 6.62% after the government on Wednesday increased its share of subsidy for di-ammonia phosphate (DAP) fertiliser by 140% from Rs 500 to Rs 1,200 per bag.National Fertilizers (up 6.62%), Rashtriya Chemicals & Fertilizers (up 5.81%), Fertilizers & Chemicals Travancore (up 5.61%), Deepak Fertilisers & Petrochemicals (up 4.88%), Coromandel International (up 3.65%), Gujarat State Fertilizers & Chemicals (up 3.52%), Chambal Fertilisers & Chemicals (up 3.14%) and GNFC (up 1.67%) advanced. The government has decided to increase the subsidy for DAP fertiliser from Rs. 500 per bag to Rs. 1200 per bag, which is an increase of 140%. Thus, despite the rise in international market prices of DAP, it has been decided to continue selling it at the older price of Rs 1200 and the central government has decided to bear all the burden of price hike.

India generalAkshay tritiyaCoromandel internationalNational fertilizersRashtriya chemicalsChemicals travancoreDeepak fertilisersGujarat state fertilizersChambal fertilisersCentral governmentCapital marketEconomy of indiaChemical industryChambal fertilisersZota districtNational fertilizers