New Delhi. Good news has emerged for India regarding fertilizer supply from Russia. Russia has agreed to provide more quantity of fertilizers to India in the coming time. The impact of this news was also seen in the stock market and a strong rise was recorded in the shares of fertilizer companies.
Rise in shares of fertilizer companies
After the news from Russia, the shares of Fertilizers and Chemicals Travancore Ltd saw a rise of about 17 percent. The company's shares reached an intra-day level of Rs 918.75 during trading. Apart from this, shares of Madras Fertilizers rose by about 10.70 percent. There was a rise of about 7.5 percent in Rashtriya Chemicals and Fertilizers. At the same time, shares of Paradeep Phosphates and National Fertilizers also registered a rise of about 7 percent.
Hope to get more fertilizer from Russia
This development was done by India's Foreign Minister S. Came to light after the meeting between Jaishankar and Russian President Vladimir Putin. According to the report, during the talks, Russia agreed to supply additional fertilizer to India. Adequate availability of fertilizers is important for the agricultural sector in India. In such a situation, the news of increase in supply from Russia is being considered positive for farmers and the fertilizer sector.
What will be the benefit to farmers?
The news of increase in supply of fertilizer from Russia to India is also considered to be a relief for the farmers. Due to adequate availability of fertilizers, farmers will not have to face much trouble for fertilizers during sowing and harvest. With improved supply in the market, shortage of fertilizer and black marketing is also expected to be curbed.