In a significant move signaling confidence in the company’s prospects, the promoter of Deepak Fertilisers has purchased 30,000 shares from the open market, amounting to approximately 1.45 Crore. This development comes at a time when the stock is trading 54% below its all-time high, reflecting an opportune moment for strategic investment.
The promoter’s decision to increase their stake underscores their belief in the long-term growth potential of Deepak Fertilisers, despite the recent market challenges. This move is likely to instill confidence among investors and shareholders, highlighting the company’s resilience and commitment to delivering value.
With a renewed vote of confidence from its promoter, Deepak Fertilisers is poised to navigate market headwinds and capitalize on growth opportunities in the fertilizer industry. Investors may view this development as a positive signal amidst the stock’s downward trajectory, potentially paving the way for a turnaround and renewed upward momentum in the future.
