Shrikant Jena, the fertiliser minister says at present urea units are suffering, their balance sheets are negative. He stresses that the ministry is not planning to increase the price of urea as it is a major fertilizer.
The government has granted an additional Rs 9,000-cr aid to the fetiliser industry. However, industry players feel more is needed to protect its survival.
Total income of Rashtriya Chemicals and Fertilisers in Q2, 2013-14 increased by 10.35 percent to Rs 1,820.03 crore, from Rs 1,649.36 crore in the year-ago period.
In an interview to CNBC-TV18, RG Rajan, CMD of Rashtriya Chemicals and Fertilisers (RCF) spoke current subsidy burden and the road ahead.
Rashtriya Chemicals and Fertilisers (RCF) reported a 31.28 percent fall in its net profit to Rs 4.48 crore in the quarter ended June due to lower income and increase in finance costs.
Ashish Kapur of Investshoppe is of the view that one can go long on Bata India with a target of Rs 915 and stop loss at Rs 850.
SP Tulsian of sptulsian.com has recommended sell rating on Adani Enterprises, Reliance Power and United Phosphorous.
SP Tulsian, sptulsian.com recommends to sell Adani Enterprises, Reliance Power and United Phosphorous, while suggest to buy RCF.
Rashtriya Chemicals and Fertilisers, RCF fourth quarter net sales were down 12 percent at Rs 2,171 crore versus Rs 2,494 crore, in the same quarter last year.
According to SP Tulsian of sptulsian.com midcap cement companies are looking good because considering the results having posted by them and the kind of corrections that has taken place. Also some fertilizer stocks like Chambal Fertilizer and Rashtriya Chemicals and Fertilisers look good.
SP Tulsian, sptulsian.com is of the view that Rashtriya Chemicals and Fertilisers (RCF) can move to about Rs 50 or so in next 4-6 months.
State-run Life Insurance Company has once again stepped in at the last minute to rescue the government in its divestment programme in Rashtriya Chemicals and Fertilisers (RCF) held last week.
State-controlled Rashtriya Chemicals and Fertilisers (RCF) jumped nearly 6 percent on Friday after the government set floor price for its offer for sale (OFS) issue higher than previous day's closing price.
SP Tulsian, sptulsian.com advices to participate in the offer for sale of Rashtriya Chemicals and Fertilisers (RCF) and expect the offer for sale to get a good response. This stock can swiftly move to Rs 50 plus may be in next one month or so.
SP Tulsian of sptulsian.com feels the fair value of RCF should be anywhere between Rs 52-55.
After effectively halving its subsidy on fertilisers for 2013-14 in the budget, India will have to allow producers to take the politically sensitive step of hiking urea prices to farmers or provide additional funding, industry officials say.
Siddharth Bhamre of Angel Broking gives his view on market outlook and various stocks. In an interview with CNBC-TV18, Bhamre says that he would have shorted at 6,100 on NIfty but did not do so thinking market would go high. So, shorting opportunity is gone. Right now, shorting may not be a good idea.
Rashtriya Chemicals and Fertilisers has reported a sales standalone turnover of Rs 1,567.83 crore and a net profit of Rs 73.98 crore for the quarter ended Dec '12
A consortium led by state-owned Rashtriya Chemicals and Fertilisers is in talks with Canada-based Encanto Potash for a long term supply agreement of 2 million tonnes per annum of potash.
Cabinet Committee on Economic Affairs (CCEA) has approved 12.5% divestment in Rashtriya Chemicals and Fertilisers (RCF), reports CNBC-TV18. At 13:45 hrs Rashtriya Chemicals and Fertilisers was quoting at Rs 58.30, up Rs 2.65, or 4.76%.
State-controlled Rashtriya Chemicals and Fertilisers gained as much as 4.35 percent to touch an intraday high of Rs 57.60 on Wednesday. Government sources' reports suggest that the cabinet committee on economic affairs (CCEA) is likely to meet on Saturday to take a decision on the divestment of 12.5 percent stake in the company.
Rajen Shah of Angel Broking is positive on fertiliser space.
Firstcall Research is bullish on Rashtriya Chemicals and Fertilisers (RCF) and has recommended buy rating on the stock with a target of Rs 58 in its November 23, 2012 research report.
In an interview to CNBC-TV18, RG Rajan, chairman and managing director, RCF says the company may be about five percent short in the overall sales of fertilisers this year. "I think we may be marginally short than last year. Last year, we have done close to 41 lakh tonne," he adds.
State-owned Rashtriya Chemicals and Fertilisers' (RCF) net profit rose by 6.3 percent year-on-year to Rs 82.7 crore in the July-September quarter of financial year 2012-13.