Deepak Fertilisers, GSFC, GNFC: What charts indicate for fertiliser stocks

Chambal Fertilisers may rally towards Rs 240 if it sustains above Rs 200 levels.

Fertiliser stocks such as Gujarat State Fertilizers and Chemicals (GSFC), Deepak Fertilisers, and Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) were trading in the positive territory in the morning deals on Tuesday.

Last month, Finance Minister Nirmala Sitharaman had announced a Rs 65,000-crore fertiliser subsidy for farmers as part of her stimulus package to boost the economy. The enhanced allocation was announced by the minister as part of the latest tranche of Covid-19 relief for stressed sectors. READ MORE

According to a report by Edelweiss Securities, the fertiliser segment in the agri-input space showed a decline in volume