Deepak Fertilisers gains on plan to raise Rs 1,000 crore for expansion

14 Jul 2014

Deepak Fertilisers & Petrochemicals Corporation is currently trading at Rs. 157.50, up by 0.20 points or 0.13 % from its previous closing of Rs. 157.30 on the BSE.

The scrip opened at Rs. 157.20 and has touched a high and low of Rs. 163.80 and Rs. 156.00 respectively. So far 34102 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 175.80 on 07-Jul-2014 and a 52 week low of Rs. 81.20 on 01-Aug-2013.

Last one week high and low of the scrip stood at Rs. 175.80 and Rs. 155.60 respectively. The current market cap of the company is Rs. 1403.78 crore.

The promoters holding in the company stood at 45.46 % while Institutions and Non-Institutions held 17.33 % and 37.20 % respectively.

In a bid to meet its expansion and diversification plan, Deepak Fertilisers & Petrochemicals Corporation (DFPCL) has sought approval of its shareholders for raising Rs 1,000 crore from the market during the current fiscal 2014-15.

Moreover, the company is also seeking approval for proposal to double the borrowing powers of its board to Rs 1,000 crore. The company is likely to use these funds to finance its plans for doubling complex fertiliser capacity to six million tonnes per annum.

Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments- chemicals, fertilisers and real estate.

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