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Wednesday, 18 January 2017

Fertiliser stocks, specifically above 1000 crore marketcap have witnessed a leap in intraday trade on January 18, 2017. However, Chambal Fertilisers and Chemicals (Chambal Fert) was an exception and has fallen 0.8% at 85.9 levels.

The top gainer was Fertilisers and Chemicals Travancore that has surged nearly 8% at 36.6 levels. GSFC, GNFC and Deepak Fertilisers and Petrochemicals Corporation followed with 1% plus gains each. The stock of Chambal Fert saw a profit booking after rallying for three days in a row, however, the trend remains positive.

The Fertiliser stocks have cued towards recovery after a better offtake in the last two months of calendar year 2016. Diammonium phosphate sales were nearly 10% up so far for the rabi and winter season. Muriate of potash sales rose 34% while urea fell 12%. The fall in urea was on the back of delay in sowing of rabi. Going forward, if January witnesses’ good sales then companies may see surplus inventories getting cleared.
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