Fertilizer Shares Decline Following PM Modi's Appeal to Farmers

Fertiliser Stocks Plummet on PM Modi's Call for Sustainable Farming Practices

Shares of major fertiliser companies traded lower on Monday following Prime Minister Narendra Modi's address in Hyderabad on Sunday, where he called for reduced fuel consumption, dependence on chemical fertilisers, and more sustainable farming practices. Modi urged farmers to gradually reduce their reliance on chemical fertilisers and transition towards natural and sustainable alternatives as part of a broader push for economic resilience and lower import dependence.

Investors appeared cautious after Modi's address, with fertiliser stocks taking a hit. Among the major fertiliser companies, Coromandel International was trading at Rs 1,902.90, a decline of Rs 24.70 or 1.28%. FACT declined 3.11% to Rs 876.50, emerging as one of the biggest losers in the pack.

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Other fertiliser stocks also saw significant declines, with Chambal Fertilisers and Chemicals slipping 0.72% to Rs 452.50, while GNFC fell 1.41% to Rs 489.15. Rashtriya Chemicals and Fertilizers were also under pressure, trading at Rs 127.05, down 2.70% in morning trade.

Modi's address also touched on the need for the country to achieve self-sufficiency in edible oils and to reduce dependence on foreign imports. He called on citizens to cut petrol and diesel consumption, avoid non-essential gold purchases for a year, and support locally produced goods.