Spike in fertiliser sales boosts prospects for Coromandel International

Higher off-take of fertilisers, boosted by record rabi crop this year, is seen driving earnings growth for Hyderabad-based Coromandel International in the December quarter (Q3). Beyond Q3, too, the Street is bullish on the company’s growth prospects, a reason for the consistent rise in its share price. Since its March lows, it has risen 90 per cent, including 20 per cent in the past two months. Led by abundant rainfall and higher soil moisture, India’s rabi foodgrains production in the current crop year is expected to surpass previous year’s record of 153.27 million ton.....

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