India's Deepak Fertilisers up on purchase agreements with GAIL (India)

Deepak Fertilisers and Petrochemicals

04/09/2023 07:23

** Shares of Deepak Fertilisers and Petrochemicals Corp
 DPFE.NS  up as much as nearly 4% to 627.55 rupees, highest
since April 19
    ** Stock posts biggest intraday pct gain since Aug. 30
    ** Rise comes after the industrial chemicals and fertilisers
maker signed two gas purchase agreements with GAIL (India). 
    ** DPFE, in a regulatory filing, says with the agreement,
co's total gas requirements for the next three years have been
tied up with a gas basket consisting of a combination of Brent,
HH and domestic linked.
    ** More than 1.2 mln shares change hands by 11:46 a.m. IST,
1.9x the 30-day avg
    ** As of last close, stock down 15.6% so far this year
    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))