Several major fertilizer stocks witnessed a sharp surge on Tuesday. Shares of Fertilisers And Chemicals Travancore, National Fertilizers, Madras Fertilizers, and Rashtriya Chemicals and Fertilizers saw growth ranging from 7% to 18%. This surge is attributed to Europe's decision to increase tariffs on imported fertilizers from Russia and Belarus, and the anticipated early arrival of the monsoon in India.
Surge in Fertilizer Stocks
Despite both major Indian stock market indices, Sensex and Nifty 50, closing in the red on Tuesday, fertilizer sector stocks showed a positive trend. Fertilisers And Chemicals Travancore Ltd.'s share price soared by 18 percent, reaching ₹1,048, while National Fertilizers Limited's stock increased by 8.5 percent, trading at ₹107.66. Similarly, Madras Fertilizers Ltd. saw a 15 percent increase in its share price, and Rashtriya Chemicals and Fertilizers Ltd. experienced an approximate 7 percent growth.
Main Reasons for the Surge
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