Market share gain makes Coromandel a preferred pick among fertiliser stocks

The stock of Coromandel International has been hitting its yearly highs. It is the preferred pick in the fertiliser space. An increase in rabi sowing and volume growth in fertilisers has led to a bullish view on the company.

Overall acreage for the ongoing rabi season is up nearly 7 per cent over last year’s levels, with sowing for key crops of wheat, rice, and pulses being higher than the year-ago period.

In addition to a better rabi season, reservoir levels — 40 per cent above the average in key agricultural states — are also a welcome sign. Analysts highlight