Deepak Fertilizers and Petrochemicals Corporation Ltd jumps as much as 17.4 per cent to ₹192.5, marks its biggest intraday per cent gain in over two years
The fertiliser manufacturer said late Wednesday that Income Tax department had concluded their search and seizure operations at their offices.
The company added that it does not expect any material adverse impact from the income tax searches. The company announced that income tax dept carried out operations last Friday, but did not divulge further details; since then shares dropped around 10 per cent as of last close
Around 3 million shares change hands, 21 times their 30-day average of about 141,116 shares
The stock has estimated PE of 5.61, well below sector average of 22.13.