Deepak Fertilisers rallies 6%, hits new high on strong demand outlook

Some of the key positives include strong growth prospects of the TAN business, high regulatory entry barriers, improving capacity utilisations, and a strong uptick in return ratios

Shares of Deepak Fertilisers & Petrochemicals Corporation (DFPCL) hit a new high of Rs 1,048 as they rallied 6 per cent on the BSE in Thursday's intra-day trade, in an otherwise range-bound market, on strong demand outlook. The stock of the leading producers of industrial chemicals and fertilisers company was trading higher for the fourth straight day, surging 17 per cent during the period. In comparison, the S&P BSE Sensex was down 0.10 per cent at 59,047 points at 01:18 PM.

DFPCL is the second largest manufacturer of Nitric Acid in South East Asia, and the largest in India.