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
GNFC's revenue from operations slipped a little over 7 per cent to Rs 2,110 crore in Q4FY24, as opposed to Rs 2,271 crore a year ago (Q4FY23)
The risk of a breach of the government's fiscal deficit target could play a spoilsport for the sector as it could prompt the Centre to cut back on subsidy support, analysts believe.
GNFC serves over 11,500 companies through its (n) Code platform for e-tender and e-procurement