Deepak Phenolics Ltd signs term sheet with Petronet LNG to procure Propylene and Hydrogen

has approved execution of binding Term Sheet between DPL and Petronet LNG Limited (PLL) for offtake of 250 KTPA of Propylene and 11 KTPA of HydrogenThe Board of Directors of Deepak Phenolics Limited ('DPL'), a wholly owned material subsidiary of Deepak Nitrite Limited ('Company'), has approved execution of binding Term Sheet between DPL and Petronet LNG Limited (PLL) for offtake of 250 KTPA of Propylene and 11 KTPA of Hydrogen from Petronet Petrochemical Project at Dahej, Gujarat for a period of 15 years from the date of first suppty of Propytene and Hydrogen by PLL to DPL.

Shares of Deepak Nitrite Limited was last trading in BSE at Rs. 2288.85 as compared to the previous close of Rs. 2311.20. The total number of shares traded during the day was 10825 in over 1184 trades.

The stock hit an intraday high of Rs. 2325.30 and intraday low of 2266.60. The net turnover during the day was Rs. 24794861.00.

Source : Equity Bulls

Keywords

DeepakNitrite INE288B01029 DeepakPhenolics TermSheet PetronetLNG Propylene Hydrogen