Chambal Fertilizers & Chemicals increased following the Prime Minister’s Office information

Chambal Fertilizers & Chemicals Limited. increased following the information expressed that the Prime Minister’s Office has requested fertilizer ministry to accelerate planned policy to stop price controls on the crop nutrient.

Chambal Fertilizers enhanced by 4.1percent to Rs. 96.2 went for the steepest gain in nearly a one month. National Fertilizers Limited. increased by 4.3percent to Rs. 67.95, set for the largest bounce in 2 months, and Rashtriya Chemicals & Fertilizers Limited. added 3% to Rs. 72.4.

Based on information, a ministerial panel Aug. 5 okayed closing price-controls on urea. The suggestion is being sent through the finance ministry and the nation’s planning commission among concern over increasing financial assistance on fertilizers. Nearly half of the Rs. 528.4bn fertilizer subsidy_bill was allocated to urea in the yr closed March 31, 2011.

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