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MARKET EYE-Fertiliser shares up; Urea price hike way below expectations

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* Fertiliser stocks including Chambal Fertilisers and ChemicalsLtd

extend gains after the government raised the priceof the most used nitrogenous fertiliser urea by 50 rupees pertonne on Thursday.* However, traders say the hike was way below expectations,translating to less than 1 percent.* "The hike would in no way support the margin improvement forfertiliser maker, the next trigger would be the new ureainvestment policy expected to get approved later this year,"said a senior manager at a local brokerage.* Rashtriya Chemicals & Fertilizersgains 5.7 percentwhile Chambal Fertilisers and Chemicals Ltd gains 4.7 percent.

(manoj.dharra@thomsonreuters.com/abhishek.vishnoi@thomsonreuter

.com)