Shares of Sharda Cropchem Ltd surged 4.60% to ₹1,020 on Tuesday, climbing nearly 5% intraday from the previous close of ₹975.10. The stock saw a sharp rally in afternoon trade, making it one of the notable movers in the chemicals and agrochemicals space.
On the other hand, Directorate General of Foreign Trade (DGFT), at the behest of the Department of Chemicals and Petrochemicals (DCPC), extended the export obligation period for Quality Control Order (QCO) products under Advance Authorization from 6 months to 18 months.
For Sharda Cropchem, which derives a large portion of its revenue from global exports of agrochemicals, this move provides added flexibility in managing export obligations, easing working capital pressures and offering a stronger buffer against supply chain uncertainties. The extended timeframe is expected to aid exporters in fulfilling commitments smoothly without facing immediate compliance pressures.
Market participants believe this policy relief could enhance the competitiveness of Indian chemical exporters, including Sharda Cropchem, in global markets. The sentiment likely fueled the sharp buying interest in today’s session.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
