India's Paradeep Phosphates rises as court orders release of 535 mln rupees subsidy

Paradeep Phosphates

19/05/2025 10:15

** Shares of fertiliser maker Paradeep Phosphates PRAO.NS up 3.9% to 150.6 rupees

** Co says court directed India's chemicals and fertilisers ministry to release 535 mln rupees ($6.3 mln) subsidy to the firm within six weeks

** Subsidy pertains to consignment of imported Diammonium Phosphate (DAP) fertiliser supplied to various Indian states in 2013

** PRAO extends YTD gains ~36.5%

($1 = 85.4225 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))