Shares of five fertilisers companies rose by 0.41% to 1.21% at 10:14 IST on BSE after Minister of Chemicals and Fertilizers, Ananth Kumar yesterday, 11 December 2014, said that the government will clear fertilizer subsidy arrears within a month.
Coromandel Fertilizers (up 1.21%), Tata Chemicals (up 0.78%), Zuari Global (up 0.68%), Gujarat State Fertilizers & Chemicals (up 0.44%) and National Fertilisers (up 0.41%), edged higher.
However, Rashtriya Chemicals and Fertilisers (down 0.58%), Deepak Fertilisers & Petrochemicals Corporation (down 0.48%) and Chambal Fertilisers & Chemicals (down 0.23%), edged lower.
The S&P BSE Sensex was up 28.79 points, or 0.10% at 27,630.80.
Kumar made the announcement at the two day conference of Fertilizer Association of India (FAI) that concluded in New Delhi. The minister also assured that various issues relating to the fertilizer sector would be addressed at the earliest. The Fertilizers Ministry is seeking increased supply of gas for urea manufacturing plants, he said.
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