India's Paradeep Phosphates jumps on government subsidy hike

Paradeep Phosphates

01/04/2025 08:42

** Paradeep Phosphates PRAO.NS jumps 5% to one-month high of 108.25 rupees

** Government sets aside 372.2 bln rupees ($4.35 bln) for nutrient-based subsidy on Phosphatic and Potassic (P&K) fertilisers for kharif season 2025 (April 1-September 30)

** JM Financial Services says H1 FY26 subsidy 43% higher than total subsidy for H1 FY25; will lift profitability for co

** Raises FY26 and FY27 EBITDA estimate by 2% and 1%, respectively

** Antique Stock Broking names PRAO top pick in fertilizer sector

** Coromandel International CORF.NS also seen as one of the beneficiaries, gains 1%

** YTD, PRAO loses 1.8%, while CORF gains 8.7%

($1 = 85.5610 Indian rupees)

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))