The Nifty witnessed weakness for the third consecutive day with forming lower highs and lower lows formation and corrected almost 250 points from the weekly high of 10,774
Fertilizer stocks have been in the limelight post a CNBC-Awaaz exclusive, which states that the government has notified a New Urea Investment Policy.
The move is expected to lead to an increase in subsidy by about Rs 900 crore which will have a positive impact on urea players.
Tarun Surana of Sunidhi Securities, says that the immediate beneficiary in terms of incremental EPS from the government move to encourage investments in urea manufacturing will be Chambal Fertilizer and RCF.