Deepak Fertilisers and Petrochemicals Corporation shares surged 10% to Rs 546 in Tuesday s intraday trade on BSE after the company entered into a long-term supply agreement for Liquefied Natural Gas (LNG) with Norway-based Equinor.
Deepak Fertilisers share price: At today's day high level of Rs 817.10, Deepak Fertilisers traded 18.90 per cent lower from its 52-week high of Rs 1,061.70, hit on October 21 this year. That said, the stock zoomed 141.96 per cent from its one-year low of Rs 355.85, touched on December 20, 2021.
Why Deepak Fertilisers is poised to attract investors despite govt hike in DAP fertiliser subsidy
The fertilizer segment accounted for 44% of its revenue and contributed 25% to the total operating profit in the December quarter.
Synopsis
Pune based company introduced premium priced Nitro-phosphorus-Potassium (NPK) under the brand Smartek three years ago, which became popular given its ability to improve the yield by 9-12% for crops such as cotton, sugarcane, paddy, and groundnuts.
ET Intelligence Group: The stock of Deepak Fertilisers & Petrochemicals Corporation has nearly doubled over the past three months following improving financials helped by the premium product portfolio and reduced debt burden. While the government’s latest decision to raise the subsidy on DAP fertilisers may not affect the company much given its focus on the NPK category of fertilisers, the stock may continue to attract investors given the