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Markets ended the day on a positive note, with <keyword id="19925635" type="General" weightage="100" keywordseo="Nifty50" source="keywords">Nifty50</keyword> inching up 0.22% to close at 23,567 points, and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> closing at 77,478.93, up by 0.18%. Nifty reached an intraday high of 23,624 points, and a low of 23,442.60 points. Except for <keyword id="20038712" type="General" weightage="20" keywordseo="Nifty-auto" source="keywords">Nifty auto</keyword>, <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">pharma</keyword> and <keyword id="19973973" type="General" weightage="20" keywordseo="PSU-bank" source="keywords">PSU bank</keyword>, which closed in red, all major sectoral indices were trading in green. <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords">Hero MotoCorp</keyword> (down by 2.40%), <keyword id="20480977" type="General" weightage="20" keywordseo="Mahindra-and-Mahindra" source="keywords">Mahindra and Mahindra</keyword> (down by 2.04%) and <keyword id="20026907" type="General" weightage="20" keywordseo="Sun-Pharma" source="keywords">Sun Pharma</keyword> (down by 1.80%) were amongst the biggest losers during the day's trade. On the other hand, <keyword id="20129733" type="General" weightage="20" keywordseo="Hindalco" source="keywords">Hindalco</keyword> (up by 2.34%), Grasim (up by 2.2%) and BPCL (up by 1.82%), were amidst the biggest gainers of the day. Notably, Sun Pharma had received a warning letter from the <keyword id="19914245" type="General" weightage="20" keywordseo="USFDA" source="keywords" meta.keywordsubtype="org" meta.entityname="USFDA" meta.hostid="261" meta.entityid="USFDA">USFDA</keyword> for violating manufacturing practices in their Dadra unit. At the time of market close, the stock was trading at Rs 1,477. Amongst the 2,768 stocks traded during the day, 1,737 saw advances, while 943 saw a decline. 188 stocks hit their 52-week high and 8 stocks hit their yearly low. 138 stocks hit the upper circuit, or maximum permissible price limit in a session, and 34 stocks hit the lower circuit during the day’s trade. As per Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd, “domestic benchmark index, Nifty opened on a strong tone, consolidated within a narrow range, and ended the day on a positive note. However, the index has managed to close above 23,500 levels, indicating strength. As long as the index holds 23,330 levels, it may test 23,800–24,000 levels in the short term. Thus, a buy-on-dips strategy should be used in the Nifty, with support at 23,330”. On the BSE, MapMyIndia, RCF, NFL and Chambal Fertilisers emerged as the day’s gainers. Notably, Goldman Sachs initiated coverage of the company, adding 20% to the stock during the day. Shares of fertiliser companies like RCF and Chambal fertilisers also spiked during the day, pumped by reports of proposal to remove Goods and Service Tax (GST) on fertilisers. The final decision will be taken by the GST council on 22nd June. According to Shrikant Chouhan, Head Equity Research, Kotak Securities, “the benchmark indices continued range bound activity; the Nifty ended 51 points higher while the Sensex was up by 141 points. Among Sectors, Reality index outperformed and rallied over 2% whereas Pharma and Auto indices witnessed intraday profit booking at higher levels". "Technically, after a muted opening the entire day, the market hovered between 23,450 to 23620 (NSE) and 77,100-77,600 levels on BSE. From the last couple of days the market witnessed narrow range activity which indicates indecisiveness between the bulls and the bears", he noted.

Market closing: Sun Pharma, Hero Moto lose as fertiliser stocks shine

Shares of <keyword id="128504" type="COMPANY" weightage="100" keywordseo="Chambal-Fertilisers">Chambal Fertilisers</keyword>, a mid sized agro-chemicals maker, surged to 3-week highs after the company reported a stellar set on numbers of the back of rising demand. 
 
Chambal said its first quarter profit jumped 81 percent to 146.3 crore rupees compared with 80.8 crore rupees in the same quarter a year ago. Sales rose 22 percent to 2,440.2 crore rupees during April-June compared with 1,996.2 crore rupees in the year ago period. 
 
Chambal surged 7.20 rupees, or 11 percent, to 70.10 rupees, its highest since July 23, on the National Stock Exchange, where 29.5 lakh shares were traded by 1:20 pm compared with a 5-day average of 1.70 lakh shares. 
 
Chambal 's market capitalisation has inched up 15 percent to 2,694 crore rupees over one year. 
 
Image credit: Indiatimes

Shares of Chambal Fertilisers surged to 3-week highs

According to a report published in the Indian Express, the <keyword id="905742" type="ORGANIZATION" weightage="20" keywordseo="Narendra-Modi-led-government">Narendra Modi-led government</keyword> is planning to do away with price controls on urea and repeal an import duty of 5% in order to minimise expenditure on subsidy.

	Expenditure on fertiliser subsidy had increased four times in the last decade as the <keyword id="26374" type="ORGANIZATION" weightage="20" keywordseo="UPA-government">UPA government</keyword> had kept <keyword id="114338" type="UNKNOWN" weightage="20" keywordseo="Urea-prices">urea prices</keyword> below its production cost. It is pertinent to mention here that urea is the most commonly used fertiliser in the country. The newspaper reported that decontrolling of the maximum retail price (MRP) of urea (which is presently Rs 5,360 per tonne) is under consideration of the new government. It also said that the MRP is likely to be raised by about 20% per annum over the next three years.<o:p></o:p>

	Although the cost of urea has increased by merely16.5% since 2000, the cost of non-urea fertilisers has increased by almost three times and “muriate of potash has quadrupled.” Farmers have started using urea indiscriminately due to such an increase in the gap between prices.<o:p></o:p>

	This move is expected to help domestic fertiliser companies like <keyword id="128504" type="COMPANY" weightage="20" keywordseo="Chambal-Fertilisers">Chambal Fertilisers</keyword> and <keyword id="25943" type="COMPANY" weightage="20" keywordseo="chemicals">Chemicals</keyword> and <keyword id="214886" type="COMPANY" weightage="20" keywordseo="Rashtriya-Chemicals">Rashtriya Chemicals</keyword> and <keyword id="2690426" type="COMPANY" weightage="20" keywordseo="Fertilizers-Ltd-">Fertilizers Ltd.</keyword> If the import duty is scrapped, it would help <keyword id="6356687" type="COUNTRY" weightage="20" keywordseo="canada">Canada</keyword>'s <keyword id="402123" type="COMPANY" weightage="20" keywordseo="Potash-Corp">Potash Corp</keyword> of Saskatchewan, Mosaic Co of the United States and Russia's Uralkali. 
	 
	Image: thinkstock<o:p></o:p>

India Mulling To Deregulate Urea Prices, Scrap Import Duty: Report

<ul><li>The fertilizer company will open its IPO on May 17 and will close on May 19.</li><li>The price band of the IPO is ₹39 - ₹42 per share.</li><li>Shares of the company are already demanding a premium of ₹3 per share in the grey market, which is 10% on the issue price.</li></ul>The fertilizer company will open its initial public offering (IPO) on May 17 and will close on May 19. The IPO consists of a fresh issue of shares worth ₹1,501 crore and an offer for sale of 11.85 crore shares by promoters and shareholders of the company. The company is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna. Shares of the company are demanding a premium of ₹3 per share in the grey market, which is 10% on the issue price. Grey market is the unofficial market where shares are traded before they are either offered or listed. Here are some of the important dates related to the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹39 to ₹42 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 17 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 24 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 25 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 26 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 27 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">350 </td></tr></tbody></table> “Given the fact that the company is valued in line (Chambal fertilizer and Deepak fertilizer) with peers and likely to face headwinds in terms of cost pressures due to recent increase in raw material prices, we recommend a NEUTRAL rating on the issue,” said a report by Angel One. The fertilizer company’s performance has been improving steadily for the last three financial years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,183 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹223 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,227 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹193 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,397 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹158 crore </td></tr></tbody></table>(Source: Red Herring Prospectus) However, the company has a long way to go in comparison to its peers, who are more profitable and have more diversified chemical businesses. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax (FY21) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chambal Fertilisers and Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coromandel International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat State Fertilizers &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rashtriya Chemicals and Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">National Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paradeep Phosphates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepak Fertilisers and Petrochemicals Corporation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mangalore Chemicals &amp; Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0.7 billion </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/upcoming-new-ipo-in-this-week-paradeep-phosphates-ethos-emudhra/articleshow/91597535.cms">Three new IPOs opening this week — Paradeep Phosphates, Ethos, eMudhra while LIC to list on exchanges tomorrow</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-most-valuable-startups-in-india-in-2021-22/slidelist/91594694.cms">Top 10 most valuable startups in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-companies-will-benefit-through-backward-integration-with-buyout-of-ambuja-and-acc-cement-companies/articleshow/91591119.cms">Adani Group companies will benefit through backward integration with buyout of two major cement firms — Ambuja Cements, ACC</a>

Paradeep Phosphates IPO opens today — GMP already at ₹3 per share

Dun & Bradstreet releases its 'India's Top 500 Companies 2021’ list

New Delhi, Apr 15 () Shares of agriculture-related companies on Wednesday gained sharply after the government allowed farm activities in the second phase of the COVID-19 lockdown.Deepak Fertilizers and Petrochemicals Corporation advanced 11.45 per cent, Rashtriya Chemicals and Fertilizers zoomed 10.85 per cent, Chambal Fertilizers &amp; Chemicals 8.02 per cent, National Fertilizers 6.78 per cent and Coromandel International 3.89 per cent on the BSE. Among agrochemicals firm, UPL climbed 7.85 per cent and PI Industries jumped 4.77 per cent.Godrej Agrovet rose by 6.47 per cent. Tractor maker Escorts gained 3.73 per cent.Agricultural and allied activities including dairy, fisheries as well as tea, coffee and rubber plantation are allowed in the second phase of the COVID-19 lockdown, the government said on Wednesday issuing fresh guidelines."All agricultural and horticultural activities remain fully functional," the Ministry of Home Affairs said, issuing a new set of guidelines for enforcement during the second phase of the lockdown till May 3.The government has allowed farming operations and farm workers in the field. As harvesting of rabi crops like wheat is underway, the government has allowed inter and intra state movement of harvesting and sowing related machines like combined harvester and other agriculture and horticulture implements.That apart, the government has allowed shops of agriculture machinery, its spare parts including its supply chain and repairs to remain open.For smooth supply of farm inputs during the ongoing sowing of kharif crops, the government has permitted manufacturing, distribution and retail of fertilisers, pesticides and seeds. SUM ANUANU

Agriculture-related stocks rally after fresh guidelines from govt on lockdown

Indian stocks remained under selling stress on Wednesday as weak overseas cues from Wall Street and less than satisfactory data on Chinese manufacturing spiked sentiment further on Dalaal Street. Metals, Fertilisers and Telecom stocks were under pressure. 
 The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> fell 58 points to 7,754, recovering from its early morning low of 7,725 points. Hindalco, Vedanta, Coal India, Tata Motors and <keyword id="45660" type="CITY" weightage="80" keywordseo="Yes-Bank">Yes Bank</keyword> were the top five losers on the Index where the lone gainer was Wipro. The first 3 slots on the top traded list were held by Motherson Sumi, Maruti and Larsen &amp; Toubro on the <keyword id="53581" type="CITY" weightage="80" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>. 
 
The broader market was under selling pressure too with CNX 100, CNX 200 and CNX 500 Indices slipping about 0.5 percent each. Modest losses were also seen on CNX Mid Cap and CNX Small Cap indices as well. Sectoral indices, too, showed losses. Benchmarks representing the metals, banking, finance and pharma sectors lost between 0.5 percent and 1.2 percent on the National Stock Exchange. 
 Bit selling was also seen on the <keyword id="43628" type="CITY" weightage="80" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> where the <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> dropped 0.5 percent to 25,514 points. Tata Steel, Axis Bank, Lupin and HDFC slipped in trade. Gainers included NTPC and Mahindra and Mahindra on the Sensex where the Advance-Decline Ratio was 4:26. 
 
Larsen, Tata Steel and Tata Motors were the top traded stocks on the Sensex. 
 
Image credit: Indiatimes 
 
The wider market on the BSE saw 844 shares dropping below Tuesday's closing prices compared with 640 that rose in early deals. 
 
The mood was bearish on the futures and options segment where the last stage of the monthly expiry of contracts pans out. However, there were some notable winners against the backdrop of the bear grip with futures such as JP Power, Just Dial and Amtek Auto showing up on the winners' list. JSW Steel, Bata and Bosch remained under selling pressure on the market where just 51 futures rose compared with 108 that fell. 
 
Chambal Fertilisers and Aptech were the notable stocks on the top volume buzzers list on the NSE. And figuring on the 52 week lows list were Hindalco, Coal India, Care Ratings and Gujarat Gas.

Here's how the markets opened today!

A string of programmed sell orders pushed the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> lower on Monday as algorithmic trades near strong resistance levels caused sudden panic in the market during late afternoon trades.
 

	The Nifty fell 39 points close at 8,525. A 70-point fall in the Index came in less than 18 minutes, pointing to computer-based sell orders on index heavyweights that caused this swift fall. The Nifty's Advance-Decline ratio was 12/38 with ONGC, Tata Motors, M&amp;M, Hindalco and Cairn taking the first five slots on the losing side. BHEL, Hero Motors, TCS, Maruti and Bajaj Auto were the top gainers on the Index.
 

	Profit booking continued across the board with major indices such as CNX 100, CNX 200, CNX Midcap, CNX Small Cap and CNX 500 ending with losses.
 

	
		
			The Bank Nifty fell 19 points to 18,875. The trend in other sectoral indices was bearish. CNX Energy, CNX Metals, CNX IT and CNX FMCG lost ground. 
		 
		
			On the Bombay Stock Exchange, the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> dropped 135 points to close at 28,101 points. ONGC, Mahindra &amp; Mahindra, Hindalco, Tata Motors and Coal India were the top losers on the Index, whereas BHEL, Hero Motors, Maruti and GAIL edged up in trade. The Advance-Decline Ratio stood at a negative 9/21 on the Sensex on which Tata Motors was the top traded counter worth 61.3 crore rupees.
		 
		
			
				
					Bears dominated the wider market for the third day running with just 1,422 stocks gaining ground versus 1,531 fell below friday's closing prices.
				 
				
					The trend remained bearish in the derivatives space with Nifty Futures closing just a shade above 8,520 points. Fertiliser, Pharma and Realty were the only 3 sectors showing bit gains whereas major losses were seen on Infrastructure, Cement and Power spaces. The Advance-Decline Ratio favoured the bears with a ratio of 35/126 in the futures and Options market. 
				 
				
					
						Traders celebrated strong earnings from Chennai Petroleum, Chambal Fertilisers, Marksans Pharma and Wockhardt. But they were disappointed with UCO Bank, IL&amp;FS Transportation and J&amp;K Bank.
				
			
		
	

 
Image credit: Indiatimes

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