Deepak Fertilisers surges as government releases pending subsidies

NEW DELHI: Shares of Deepak Fertilisers ended higher by 4.52 per cent on Tuesday' after the Ministry of Chemical and Fertilizers agreed to release Rs 485 crore of subsidies to the company.

The Department of Fertilisers has been withholding subsidies worth Rs 785 crore, the company said in a regulatory filing.

Reacting to the development, the scrip gained 7.78 per cent to hit a high of Rs 166.85 on the BSE. The stock has gained a per cent in the year so far.