Deepak Fertilizers gains on upping ante for Mangalore Chemicals

Deepak Fertilisers & Petrochemicals Corporation is currently trading at Rs. 134.85, up by 0.45 points or 0.33% from its previous closing of Rs. 134.40 on the BSE. The scrip opened at Rs. 135.05 and has touched a high and low of Rs. 137.25 and Rs. 134.85 respectively. So far 5802 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 135.90 on 30-Apr-2014 and a 52 week low of Rs. 81.20 on 01-Aug-2013. Last one week high and low of the scrip stood at Rs. 135.90 and Rs. 125.50 respectively. The current market cap of the company is Rs. 1193.85 crore. The promoters holding in the company stood at 45.46 % while Institutions and Non-Institutions held 17.33 % and 37.20 % respectively. Deepak Fertilisers & Petrochemicals has raised the open offer price to Rs 63 per share, aggregating Rs 194.12 crore, for acquiring another 26 per cent stake in Vijay Mallya-promoted Mangalore Chemicals and Fertilizers (MCFL). Earlier as on April 23, 2014, company’s - wholly owned subsidiary - SCM Soilfert (SSL), had acquired 10,01,309 equity shares of face value of Rs 10 each representing 0.84% of share capital of MCFL. Consequent to the said purchase, SSL now holds 2,99,92,459 equity shares i.e. 25.31% in MCFL. Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments - chemicals, fertilisers and real estate.