MUMBAI Dec 14 Indian 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 was up 5.3 percent at 0351 GMT, Rashtriya Chemicals and Fertilizers gained 5.2 percent, while Chambal Fertilisers and Chemicals gained 2.9 percent. For story, see (Reporting by Rafael Nam; Editing by Prateek Chatterjee)
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India Inc is about to post another quarter of degrowth at the end of this earnings season and it will be an uphill task for the government to instil confidence in the India story. With “Make in India” week launched in Mumbai, we could hear some market-cheering announcements from the government. Article