slide

This fertiliser stock gained 760% in 3 years

Deepak Fertilisers & Petrochemicals’ share price has surged 1313% since March 2020, reaching an all-time high of rupees 1,062 in October 2020.

Brokerage firm IIFL Securities believes the stock has potential to run further and can even surpass its previous record high.

Ammonia expansion project is on track to be commissioned in 1QFY24 and is 93–94% complete.

The company has secured 40% of its gas requirements in a 3-year contract with GSPC.

The business case for setting up the ammonia project in India is predicated on savings in freight costs and import duties.

IIFL remains positive on the stock with a 12-month target price of rupees 1,100 apiece.

Nitric acid volumes showed a growth of 10% YoY, while the volumes of IPA fell by 37%.

The management expects 4Q volumes to grow sequentially as it is seasonally strong quarter.

The proposed demerger of its mining chemicals and fertilisers businesses would help each of the business verticals focus on their respective competencies.

Click here to know more about this fertiliser stock. 

Check here for markets-related stories. 

This fertiliser stock gained 760% in 3 years; Find out why

IIFL Securities said the company has delivered a steady performance in the October-December quarter of FY23, driven by the continued high spreads of key products such as nitric acid and TAN. The ammonia expansion project is on track to be commissioned in 1QFY24.

State Bank of India gains over 3% following plans to reduce its stake in Yes Bank

The infamous wall street rivalry: The story of Cornelius Vanderbilt and Daniel Drew

Stocks To Watch: Adani Enterprises, Mahindra & Mahindra Finance, Titagarh Wagons, MOIL are stocks in news today

Axis Bank completes acquisition of Citibank’s India consumer business; does this make the stock buy-worthy?

Divgi TorqTransfer Systems IPO subscribed 38% on Day 2; retail investors rush to book

Market Wrap: Sensex, Nifty resume downward march; IT, banks among top drags

Oil gains on China growth, but European inflation weighs

Gold prices fall by ₹295, silver tumbles ₹640 amid weak global trends; check rates here

Rupee falls 11 paise to close at 82.60 against US dollar

MF central: Manage accounts with multiple fund houses at one unified platform; Here's how

Holding a number of mutual funds in a number of AMCs is not uncommon. It is, therefore, vital to manage all accounts with ease and comfort

Stock Check: JSW Infra jumps almost 100% from IPO price in 5 months; should you still buy?

Currently trading at around ₹236, the newly listed JSW Infra has surged almost 100 percent jump from its IPO price of ₹119 in less than 5 months. Technical and fundamental experts suggest if you should still buy the infra stock.

Axis Mobile App ranks top position on NPS leaderboard

According to a survey, Consumer awareness was most notable for payment platforms such as Paytm, Google Pay, and PhonePe. However, when it comes to Net Promoter Score, Axis Mobile App claims the top position with a score of 59, followed by ICICI Bank's iMobile Pay, and then BHIM.

Weekend Wrap: From Trent to Adani Power, top news and market movers this week: 27 October 2023

The stock market cycle is always a few months ahead of the economic cycle.

From top news makers to market performance, here's the market wrap for the week ended 27 October 2023.

Why rebalancing a portfolio provides a safety net against volatility?

Investing isn't a 'set it and forget it' game.

Rebalancing a portfolio provides a safety net by helping control volatility and minimizing the impact of market downturns, even though it may not always yield higher returns compared to an unbalanced, equity-heavy approach

This fertiliser stock gained 760% in 3 years; Find out why

IIFL Securities said the company has delivered a steady performance in the October-December quarter of FY23, driven by the continued high spreads of key products such as nitric acid and TAN. The ammonia expansion project is on track to be commissioned in 1QFY24.

Topics to follow