20-02-2024 11:49 AM | Source: Accord Fintech
Deepak Fertilisers zooms on inking long-term supply agreement with Equinor

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Deepak Fertilisers And Petrochemicals Corporation is currently trading at Rs. 529.70, up by 35.30 points or 7.14% from its previous closing of Rs. 494.40 on the BSE.

The scrip opened at Rs. 518.65 and has touched a high and low of Rs. 546.00 and Rs. 512.50 respectively. So far 317156 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 715.00 on 19-Dec-2023 and a 52 week low of Rs. 484.00 on 13-Feb-2024.

Last one week high and low of the scrip stood at Rs. 546.00 and Rs. 489.60 respectively. The current market cap of the company is Rs. 6697.93 crore.

The promoters holding in the company stood at 45.46%, while Institutions and Non-Institutions held 16.64% and 37.90% respectively.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) has entered into a long-term supply agreement with Equinor, an international energy company headquartered in Norway, for Liquefied Natural Gas (LNG). With this tie-up, DFPCL strengthens its value chain with an attractive long-term LNG contract to solidify its value chain from Gas to Ammonia to various downstream Fertilisers, Industrial Chemicals and Mining Chemicals. This end-to-end tie-up shall establish a strong long-term foundation for all of DFPCL's product segments.

This agreement is for annual supplies of up to 0.65 million tonnes over a period of 15 years, beginning 2026. The tie-up provides room for trading some LNG parcels in the growing LNG demands in India as well as accommodating DFPCL’s growing captive needs. The LNG will be delivered to the west coast of India. DFPCL is at an advanced stage of tying up the Regasification Terminal with the Gas pipeline grid connectivity to its plant's doorstep already in place. 

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) is among India’s leading producers of fertilisers and industrial chemicals.