NFL (National Fertilizers Ltd) saw its shares trade more than 6% higher today after India and Russia formalised a new agreement focused on the fertiliser sector. The development has drawn market attention as it strengthens supply-chain visibility for Indian fertiliser companies. As of 3:04 PM, the shares were trading 5.13% higher at Rs 88.09.
According to the Indian government, domestic firms have signed an agreement with Russia’s Uralchem to establish a urea manufacturing plant in Russia. The plant is expected to support long-term availability of fertilisers for India, which is a key consumer and importer of urea.
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