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Deepak Fertilisers surges 12% as I-T raids end

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NEW DELHI: Shares of Deepak Fertilisers surged 12 per cent in morning deals on Thursday after the company announced that the income-tax team has completed search and seizure operations at its offices and normal day-to-day business has resumed fully.

In a BSE filing, the company said that the income-tax team had approached them for a search and seizure operation.

"The company follows best practices of corporate governance and compliances and we do not anticipate the search and seizure operations to have any materially adverse impact on the company," the company said.

Shares of the company were trading 11.38 per cent higher at Rs 183 on BSE at 10:05 am.

The BSE Sensex was 0.39 per cent up at 35,336 at that time.

Domestic equity benchmarks were trading in positive territory amid steady Asian cues, easing crude oil prices and strengthening rupee against the dollar.YES Bank, ONGC, Adani Ports, TCS and HDFC were leading among Sensex gainers.




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