Fertiliser and agrochemical companies like FACT, Nova Agritech, and Rallis India saw a boost in shares as the monsoons arrived early. Analysts expect increased demand for products due to favorable weather conditions, with specific bullish recommendations for Coromandel International and other companies.
The fertiliser stock hit a record high of Rs 190 on January 20, but the rally fizzled out and it witnessed a steep decline dropping below crucial moving averages. It took support around 120 levels in March 2024 and bounced back. Although the journey remained volatile, it managed to reclaim crucial moving averages, which suggests that bulls are taking control.