Deepak Fertilisers, Aarti Ind soar up to 8% on plans to ink Rs8,000 cr deal

Both parties plan to execute the formal agreement before the close of this calendar year and the supply arrangement comes into effect from 1st April 2023.

Shares of Deepak Fertilisers & Petrochemicals (DFPL) rallied 8 per cent to Rs 833.05 on the BSE in Monday’s intra-day trade on the back of heavy volumes after the company and Aarti Industries (AIL) signed a binding term-sheet for 20 year Nitric Acid offtake and supply arrangement valued at over Rs 8,000 crore.

Shares of AIL gained 4 per cent at Rs 679.90 on the BSE. In comparison, the S&P BSE Sensex was down 0.88 per cent at 61,123 at 01:48 am. However, despite today’s run-up, in past one month, the stock of DFPL (down 21 per cent) and