Deepak Fertilisers rises 8% on favourable HC verdict

Shares of Deepak Fertilisers and Petrochemicals Corporation Ltd ((DFPCL) surged nearly eight per cent on Wednesday after Delhi High Court asked the government to resume supply of gas to DFPCL plant in Maharashtra which was disconnected in May 2014.

The stock soared 7.63 per cent to settle at Rs 142.55 on BSE. During the day, it had zoomed 13 per cent to Rs 149.70.

At the NSE, shares of the company climbed 7.27 per cent to end at Rs 143.10. Delhi High Court yesterday asked the government to resume the supply of gas to DFPCL plant in Maharashtra which was disconnected in May 2014, saying the policy should be implemented "uniformly and without discrimination".

The order came on Deepak Fertiliser's plea for remedial measures against the government order to Reliance Industries Ltd (RIL) and GAIL (India) Ltd to stop the supply to its plant in Raigad district, calling it arbitrary and unfair.

Meanwhile, in the broader market the benchmark BSE Sensex ended at 27,687.72 down 483.97 points.