Deepak Fertilisers surges on favorable verdict from Delhi HC

The stock surged 11% to Rs 147 after the Delhi High Court asked the government to resume the supply of gas to the company's plant in Maharashtra.

Deepak Fertilisers has surged 11% to Rs 147 on the BSE on reports that the Delhi High Court had asked the government to resume the supply of gas to the company's plant in Maharashtra.

The order came on Deepak Fertiliser's plea for remedial measures against the government order to Reliance Industries Ltd (RIL) and GAIL (India) Ltd to stop the supply to its plant in Raigad district, calling it arbitrary and unfair.CLICK HERE TO READ FULL REPORT.

In May 2014, RIL and GAIL (India) Ltd had stopped the supply of domestic gas to its plant situated at Taloja MIDC in Raigad district of Maharashtra on the orders of the ministry of petroleum.

The stock opened at Rs 141 and touched a high of Rs 150 on the BSE. The trading volumes on the counter more than doubled, with a combined around 700,000 shares changing hands on the BSE and NSE till 0959 hours.