December 14, 2012 / 4:07 AM / 5 years ago

Fertiliser shares surge on urea manufacturing push

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

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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