Govt action to impact complex fertiliser makers
The government has decided to implement the Nutrient Based Subsidy (NBS) scheme at reduced rates from the next fiscal year. The scheme will see the government reducing subsidy rates by 15-18%. The move is expected to hit complex fertiliser makers, while producers of urea are unlikely to be impacted. NBS for nitrogen is also likely to be revised from the Rs 20.11 per kg to Rs 23.22 per kg.
Giving the government a pat on the back, fertiliser firm Coromandel International’s chairman A Vellayan said, the move is a well thought out one. “This indicates a level of advance planning by the department of fertiliser,” he believed.
Meanwhile, the fertiliser pack has taken a hit in trade today. At midday, prominent losers included Nagarjuna Fertilisers, GSFC and National Fertilisers which were down approximately 4% apiece.
Source :- Moneycontrol
