Fertiliser shares surge on urea manufacturing push

MUMBAI Fri Dec 14, 2012 9:33am IST

A farmer spreads fertiliser on his field in Satara district, about 285 km (177 miles) south of Mumbai, May 11, 2011. REUTERS/Vivek Prakash/Files

A farmer spreads fertiliser on his field in Satara district, about 285 km (177 miles) south of Mumbai, May 11, 2011.

Credit: Reuters/Vivek Prakash/Files

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MUMBAI (Reuters) - Fertiliser shares rallied on Friday after the government approved a new policy to encourage investment in urea manufacturing, in a move seen expediting $6.5 billion in projects that have been held back.

National Fertilizers (NAFT.NS) was up 5.3 percent at 9:21 a.m., Rashtriya Chemicals and Fertilizers (RSTC.NS) gained 5.2 percent, while Chambal Fertilisers and Chemicals (CHMB.NS) gained 2.9 percent.

(Reporting by Rafael Nam; Editing by Prateek Chatterjee)

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