Department of Fertilizers to Release Pending Subsidy Payment to Deepak Fertilisers
DSIJ Intelligence / 16 Jun 2017
Deepak Fertilisers & Petrochemicals Corporation informed that the Department of Fertilisers (DOF) would release balance subsidy of Rs 310.52 crore on providing a bank guarantee of an equivalent amount.
On Thursday, Deepak Fertilisers & Petrochemicals Corporation informed that the Department of Fertilisers (DOF) would release balance subsidy of Rs 310.52 crore on providing a bank guarantee of an equivalent amount.
Deepak Fertilisers and Petrochemicals Corporation Limited is a manufacturer of fertilisers. Its principal products/services include nitrophosphate (fertilisers), complexes (fertilisers) and technical ammonium nitrate (TAN).
On June 13, 2016, the company had informed the bourses, about with holding of the said subsidy by Department of Fertilisers due to alleged undue gains on account of supply of cheap gas, as per a BSE filing.
Meanwhile, the stock was up by 1.8% at Rs 271.10 per share at 1436 hours IST on BSE. It touched a high of Rs 273.50 and a low of Rs 268.50 so far during the day.
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