Deepak Fertilizers & Petrochemicals Corp will consider and approve on 01 July 2021 the conversion of Foreign Currency Convertible Bonds (FCCBs) issued to International Finance Corporation (IFC) into equity shares of the Company consequent to exercise of conversion right available to them pursuant to FCCB Subscription Agreement entered between the Company and IFC.

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Deepak Fertilizers & Petrochem. Corp. will hold a meeting of the Board of Directors of the Company on 1 July 2021..

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Deepak Fertilizers & Petrochemicals Corp has received revision in credit ratings from ICRA as under:

Short term - ICRA A1+ (upgraded from ICRA A1)
Long term - ICRA A+ (reaffirmed)

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Shares of Deepak Fertilisers have rallied 51.24% in six trading days from its previous closing low of Rs 294.30 on 4 June 2021. The counter hit a record high of Rs 456.40 in intraday today. The stock has soared 345% from its 52-week low of Rs 99.86 hit on 12 June 2020.

In last one month, Deepak Fertilisers has jumped nearly 58% compared with 7.72% rise in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 86.674. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 277.35 and 231.06 respectively. These levels will act as crucial support zones in near term.

Deepak Fertilisers and Petrochemicals Corporation is a manufacturer of fertilizers and chemicals. On a consolidated basis, the company reported a 405.5% jump in net profit to Rs 113.29 crore on a 21.8% rise in net sales to Rs 1,575.08 crore in Q4 FY21 over Q4 FY20.

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