The company's consolidated net profit doubled to Rs 181 crore in Q3FY22 from Rs 89 crore
Deepak Fertilisers has broken out of the consolidation range of Rs 390 to Rs 340 levels, and can rally up to Rs 450-odd levels.
Further consolidation seems likely, while telecom stocks may be in focus owing to the new DoT order on limiting SIMs per user
Analysts at Sharekhan expect high double-digit earnings growth for agri input companies over the next couple of years
These stocks are trading under 'T' group on the BSE and 'BE' segment on the National Stock Exchange
In the past six months, the stock has soared nearly 190 per cent, against 14 per cent rally in the S&P BSE Sensex
ICICI Securities does not expect the reduction in prices to have a major impact on the balance sheet of fertiliser companies
Robust Marketing Services Private Limited, the promoter of the company, acquired 685,872 equity shares worth of Rs 13.16 crore through open market between February 25 and March 13.
The stock moved higher by 17% to Rs 192 after the company said that the Income-tax team has left the company's offices and normal day-to-day business has resumed fully.
The stock is down 5% at Rs 167 today, trading at its lowest level since August 19, 2016, on BSE.