The regulator has slapped a fine of Rs 25 lakh on Naresh Ramniklal Mehta and Rs 20 lakh on his wife Pallavi Naresh Mehta, and also directed them to pay the fine within 45 days, according to an order.
Net income for the September quarter rose to Rs 1,418.47 crore from Rs 1,181.47 crore in the year-ago period.
According to Shailesh Mehta, Deepak Fertilizers will maintain its margins or even perform better than 35 percent if the ammonia prices remain low. The company will explore all the options to increase its stake in MCF as it will be beneficial for both the companies.
Emkay Global Financial Services is bullish on Deepak Fertilizers and Petrochemicals and has recommended buy rating on the stock with a target of Rs 172 in its October 31, 2012 research report.
Deepak Fertilizers and Petrochemicals' net profit fell by 25 percent to Rs 40.6 crore in the second quarter of current financial year from Rs 54 crore in the corresponding quarter of last fiscal.
Emkay Global Financial Services is bullish on Deepak Fertilizers and Petrochemicals and has recommended buy rating on the stock with a target price of Rs 185 in its December 30, 2011 research report.