D-Street Buzz | Fertiliser stocks trade higher; Bayer CropScience, Coromandel International hit 52-week high

Shares of most fertiliser stocks traded with strong gains in morning trade on May 27.

Stocks such as Nagarjuna Fertilizers and Chemicals, Rama Phosphates, Zuari Industries, Coromandel International and Basant Agro Tech (India) jumped up to 5 percent.

Shares of Bayer CropScience and Coromandel International touched their 52-week highs.

Source: BSE

Coromandel International's consolidated net profit surged 96 percent year-on-year to Rs 235 crore in March quarter of FY20 against Rs 120 crore of the same quarter in the previous financial year.

The coronavirus outbreak has pushed most sectors to their lowest lows but there is one segment that is clocking impressive growth, thanks to healthy underlying demand.

Fertiliser sales were up 47 percent in April, brokerage firm Prabhudas Lilladher has said in a report.

Among the players, Coromandel International’s volumes were up 194 percent YoY, Chambal up 69 percent and GSFC’s volumes were 15 percent higher, the report said.