Shares of fertilizer companies surged Thursday after Indian Farmers Fertiliser Cooperative Ltd (IFFCO) increased prices of fertilizers by 55-60 percent. These include di-ammonium phosphate (DAP) fertilizers and different grades of nitrogen, phosphorus, and potassium (NPK) fertilizers.

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Shares of Deepak Fertilizers, Rashtriya Chemicals, and National Fertilizers rose between 13-18 percent.

For DAP, IFFCO has increased the price from Rs 1,200 to Rs 1,900 per bag. This price hike is effective from April 1, 2021.

Watch the accompanying video featuring CNBC-TV18’s Sonal Bhutra for more details.

(Edited by : Yashi Gupta)

First Published:Apr 8, 2021 11:45 AM IST