India's Zuari Agro Chemicals jumps as operations resume at key plant

Zuari Agro Chemicals

14/07/2021 09:05

** Indian fertilizer company's shares  ZUAR.NS  rise as much
as 5.1% to 158.9 rupees - their highest in over two years
    ** ZUAR says plant in Mahad, in the state of Maharashtra,
resumes operations after tie-up with a supplier of raw materials
 https://bit.ly/3xDY1WP
    ** Plant has 200,000 MTPA capacity to produce Single Super
Phosphate, an important fertiliser
    ** More than 614,100 shares traded by 0750 GMT, compared
with their 30-day avg volume of over 719,200 shares
    ** India govt in May raised the subsidy for phosphate-based
fertilisers by 140% to bring down retail prices of the
fertiliser  urn:newsml:reuters.com:*:nFWN2N60V2
    ** Govt last month approved additional 147 bln rupees for
fertilizer subsidies  urn:newsml:reuters.com:*:nD8N2HY02D
    ** As of last close, ZUAR is up 52.47% this year

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))