Fertiliser, agrochemical stocks rally as monsoon arrives early
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Shares of fertiliser and agrochemical companies were among the top gainers on the BSE on Monday, after monsoons progressed earlier than expected in various parts of the country. Analysts said investors are hoping that the good rainfall could benefit the agriculture sector, which in turn would boost demand for their products. Fertilisers & Chemicals Travancore (FACT), Nova Agritech, National Fertilizers, Rallis India and Paradeep Phosphates rose between 10% and 15% at closing. "We have seen the shift in global weather conditions from the start of 2024, and we are turning from El Nino, which was seen last year, to La Nina, which is known to bring good rains in the Asian subcontinent," said Prashant Biyani, vice president-institutional equity research at Elara Capital. "This will help boost the demand for agri inputs, including agrochemicals and fertilisers." He is bullish on Coromandel International, Bayer CropScienc...