Fertilizer Shares Rally On Good Harvest Season

Most of the economic activity has been in a stagnant position from April-May due to this pandemic the decision to exempt farming activities from lockdown has resulted in good crop output. Shares of fertilizer producers are growing stronger  in the line with their recent recent rally, on the back of good rabi season and normal rainfall. The rural areas are less affected  by the Covid-19 comparatively  than urban areas , and this is further aiding the positive sentiment on these counters.Some of the important fertilizer stock are Tata Chemicals (up 0.9 per cent at Rs 299) , Coromandel International (up 0.6 per cent at Rs 675) and National Fertilizers (up 0.4 per cent at Rs 37) and Zuari Global (up 1.4 per cent at Rs 50) rallies over around 1% each on the BSE in early trading,BSE outperforming gains  around 0.9% Good Monsoon has been a good result in enabling factor for agriculture. The monsoon rainfall has recorded 19 percent above rainfall and 83 percent of the country has received normal or better rainfall.The Indian Meterological  has forecasted that the monsoon this year would be 102 percent of long period average

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Updated By Bidisha Roy Choudhury

News Source NDTV