Mumbai: Shares of fertiliser companies on Friday surged up to 19 per cent after the Union Cabinet approved the long-pending urea investment policy.

Read More:Cabinet clears CII, urea policy
Cheering the move, shares of Fertilisers and Chemicals Travancore soared by 19 per cent to Rs 32.85, while Chambal Fertilisers gained 5.42 per cent to Rs 71.90 on the BSE.
Among others, Tata Chemicals shares were trading higher by 1.44 per cent, while Deepak Fertilisers rose by 1.14 per cent, RCF (2.84 per cent), Coromandel International (2 per cent), National Fertilizers (2.34 per cent) and Rashrtiya Chemicals and Fertilisers (2.94 per cent).
The Union Cabinet yesterday approved the long pending urea investment policy that will incentives setting up of new fertiliser plants and expansion of existing ones aimed at cutting import dependence, and simplified procedures for award of road projects faster.
Meanwhile, in the stock market, the BSE benchmark Sensex was trading at 19,276.75, up 47.49 points at 1226 hrs.


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