Fertiliser stocks in green

Fertiliser stocks are the big gainers on the bourses today, currently led by RCF, which hit a new 52-week high today at Rs.193.90. The entire clan is up – Rama Phosphates, Khaitan Chemicals, FACT, Madras Fertilisers, NFL, Chambal Fertilisers, GSFC, Rallis India, Pradeep Phosphates, SPIC, Zuari Agro, Mangalore Chemicals, Coromandel Fertiliser.

The reason? Apart from the seasonal factor (better monsoon this year) and upcoming Budget expected to give tax sops, all eyes are on the first GST Council meeting scheduled to be held on 22^nd June and grapevine has it that a decision could be made to remove GST for the sector. This matter is currently said to be with the Group of Ministers for rate rationalization.