Fertiliser stocks rise after govt seeks additional spending

NEW DELHI: Shares of fertiliser companies gained in the afternoon trade on Monday after the Finance Ministry sought Parliament's approval for the net additional spending of Rs 33,380 crore ($5.21 billion) for 2017-18.

This includes Rs 20,532 crore for the fertiliser sector, said a Reuters report quoting government document.

Reacting to the news, Fertilisers and Chemicals Travancore rose as much as 6 per cent, while National Fertilizers added 3.7 per cent. Southern Petrochemical Industries was up 2.3 per cent and Rashtriya Chemicals and Fertilizers climbed 2.7 per cent.