Shares of Deepak Fertilisers and Petrochemicals Corporation Ltd. gained 2.5% on Wednesday, November 19, after brokerage firm Emkay initiated coverage on the stock and projected a 41.5% potential upside from its previous closing price.

Emkay has initiated a "buy" rating on the stock with a price target of ₹2,000 per share. The stock ended the previous session at ₹1,413 apiece. This is the second-highest price target on the stock among the five analysts who cover the stock. All five analysts have a "buy" rating on it.

The brokerage is positive on Deepak Fertiliser as it is a leader in domestic markets, its product portfolio aligns with India's growth story, and that its demerger plans in the next couple of years will lead to value unlocking, among other reasons.

Emkay said Deepak Fertil

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