Fertilizer shares better on a day in the event the Indian stock markets seen massive selling pressure

The Group of Ministers nod_to free urea costs has raised fertilizer shares better on a day in the event the Indian stock markets seen massive selling pressure.

An empowered GoM under FM Pranab Mukherjee has cleared the idea to free the rates of urea and take it under the Nutritional Based_Subsidy (NBS) policy. The govt has determined to increase urea prices by 10per-cent in the 1st yr of the policy, following which the industry would_be free to decide the costs.

Currently, the cost of urea is Rs5,310 a tn, that was enhanced from Rs4,830 a tn in 2010. Imports of urea have increased greatly to 6mn tonne in 2010-2011 from 0.64mn tonne in 2004-05.

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