The catalyst for this rally in fertiliser shares was the anticipated increase in the price of Di-Ammonia Phosphate (DAP), the second most widely used fertiliser in India after urea
The rise in RCF share price came on the back of healthy results in the September quarter of financial year 2025 (Q2FY25)
The RCF share price surged after the company announced that it has awarded an order of a little over Rs 1,000 crore to L&T Energy Hydrocarbon division of L&T.
ONGC, Oil India, GNFC, Tata Chemicals and Sun Pharma are among the 9 stocks that could rally up to 20%, suggests technical charts. Check key support and resistance levels for these stocks here.
State-owned Rashtriya Chemicals and Fertilizers Ltd (RCFL) on Monday posted 84 per cent fall in consolidated net profit at Rs 10.80 crore for the first quarter of 2024-25 on higher finance cost. Net profit stood at Rs 67.79 crore in the same quarter previous year, according to a regulatory filing. Total income increased to Rs 4,396.06 crore from Rs 4,042.95 crore in the year-ago period. Expenses rose to Rs 4,409.93 crore from Rs 4,009.02 crore. RCFL said the government has reduced rates of Nutrient Based Subsidy (NBS) since October 1, 2023, which has adversely impacted profitability of phosphatic and potassic fertilizers. Shares of the company on Monday settled down 1.40 per cent at Rs 200.35 apiece on the BSE.
In the pre-Budget consultations with the finance minister, the agri sector had sought rationalisation of fertiliser subsidies and hike in investment for agricultural research.
The stock rose after the company announced that it has bagged an order worth Rs 514.55 crore