Deepak Nitrite gains on order from Bayer Crop Science

The company said it has bagged an annual contract of sizeable amount for the year 2016 from Bayer Crop Science

Shares of Deepak Nitrite were up over 6% at Rs 67 after the company said that it has bagged an annual contract of sizeable amount for the year 2016 for supply of a major agro intermediate from Bayer Crop Science.

The release also said that the company has received supplier excellence award in the outstanding performance category from Bayer Crop Science for the year 2015.

With Fine and Speciality segment of the company, contributing to all three segments viz. agro, pharma and personal care, the segment is expected to make a favourable impact on the company's top line as well as bottom line, the release added.

The stock opened at Rs 66 and touched a high of Rs 70. At 12:35pm, over 410,000 shares were traded on both the stock exchanges.