Deepak Fertilisers strengthens on plan to buyout Zuari Fertilisers’ stake in MCF

07 Jan 2014 Evaluate

Deepak Fertilisers & Petrochemicals Corporation is currently trading at Rs. 103.45, up by 0.55 points or 0.53% from its previous closing of Rs. 102.90 on the BSE.

The scrip opened at Rs. 103.50 and has touched a high and low of Rs. 104.95 and Rs. 103.00 respectively. So far 3354 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 130.35 on 07-Jan-2013 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. 106.90 and Rs. 101.50 respectively. The current market cap of the company is Rs. 915.57 crore.

The promoters holding in the company stood at 44.55% while Institutions and Non-Institutions held 18.33% and 37.12% respectively.

Deepak Fertilisers is keen to buyout Zuari Fertilisers’ stake in Mangalore Chemicals & Fertilizers (MCF). In this regard, the company has readied funds to make an open offer to Zuari. Zuari Fertilisers is planning to exit MCF by February this year. Zuari Fertilisers holds 16.40% stake in MCF, while Deepak Fertilisers is holding 24% stake in the company.

Mangalore Chemicals & Fertilizers (MCF) is the only manufacturer of chemical fertiliser in state of Karnataka. The Karnataka based company manufactures products such as urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers.

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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