Fertiliser shares falter on delayed urea proposal

Reuters Market Eye - Shares in fertilisers companies pare gains after Home Minister P. Chidambaram tells reporters the cabinet has sent back a proposal to increase urea prices to ministries involved, effectively delaying a decision.

Stock had earlier rallied on expectations the government would decide on increasing urea fertilisers prices during the scheduled meeting.

Chambal Fertilisers and Chemicals falls 1.4 percent after earlier gaining as much as 4.1 percent, while Rashtriya Chemicals and Fertilisers gains 0.8 percent, paring earlier gains of up to 5 percent.

(abhishek.vishnoi@thomsonreuters.com)