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Fertiliser stocks gain as government hikes subsidy; Chambal, RCF rally 9%


Fertiliser stocks were in focus at the bourses on Thursday, rallying up to 9 per cent on the BSE in intra-day trade, after the Centre increased its share of subsidy for di-ammonia phosphate (DAP) by 140 per cent from Rs 500 to Rs 1,200 per bag. The hike in DAP fertiliser subsidy is due to rising prices of phosphoric acid, ammonia, etc, internationally.
This would translate into reduction of market price of DAP from Rs 2,400 per bag to Rs 1,200 per bag. The cost to the government would be around Rs 14,775 crore.
In the last few months, all major fertiliser companies, including the biggest player Iffco, had hiked DAP rates along with prices of other complex fertilisers. This followed a 60 to 70 per cent rise in international prices of phosphoric acid and ammonia, which are key components for DAP. ....

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Market Wrap Podcast, May 20: Here's all that happened in the markets today

Read more about Market Wrap Podcast, May 20: Here s all that happened in the markets today on Business Standard. The BSE barometer of 30-shares was down 338 points, or 0.68 per cent, at 49,565 levels while the Nifty50 index quoted at 14,906 levels, down 124 points or 0.83 per cent ....

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Gujarat Narmada Valley Fertilizers & Chemicals consolidated net profit rises 29.38% in the March 2021 quarter

Gujarat Narmada Valley Fertilizers & Chemicals consolidated net profit rises 29.38% in the March 2021 quarter
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