The delay in fertiliser policy which was due in August had negative impact on the fertiliser stock prices. Most fertiliser stocks surged during June and July on such expectations.
However, the stock prices fell thereafter on the lack of direction on fertiliser policy and poor monsoon.
The divestment candidate RCF suffered a severe setback falling to Rs 13.40 yesterday from a three months back price of Rs 28.85. National Fertilisers was down from Rs 39.05 to Rs 25.50.
Among other major private sector fertilisers stocks, Zuari India declined by Rs 10 to Rs 19.40, Hind Lever Chem fell by Rs 20 to Rs 169.20 and Coromondel Fertiliser moved down by Rs 20 to Rs 63.
The proposed reduction of fertiliser prices had no impact on the stock price movement on the stock market. The major fertilisers stock remained unmoved yesterday with GNFC edging marginally up from Rs 25.75 to Rs 25.90, National Fertiliser moved up from Rs 24 to Rs 25.50 and GSFC gaining a bit from Rs 16.85 to Rs 17.30.
However, Chambal Fertilisers declined by Rs 3 to 63, Hind Lever Chemical down by Rs 2.40 to Rs 169.20 while Chambal Fertiliser was down from Rs 10.35 to Rs 10.30.
