Unicon Investment is bullish on Deepak Fertilisers & Petrochemicals (DFPC) and has recommended buy rating on the stock with a target of 180 in its January 31, 2012 research report.

Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) segments include chemicals, fertilizers, realty and others. The chemicals division of DFPCL manufactures methanol, various grades of nitric acid and ammonia. The explosives division manufactures low density ammonium nitrate, which is used for making ammonium nitrate-fuel oil (ANFO), blasting agents and also emulsified ANFO (HANFO). DFPCL\'s products include ammonia, methanol, carbon dioxide, propane, bulk and specialty chemicals.

Deepak Fertilisers & Petrochemicals Ltd. (DFPC) outperformed street expectations with 60 percent and 23 percent YoY growth in topline and bottomline respectively. Traded Fertiliser segment registered a phenomenal growth of 112 percent on YoY basis, while chemicals and manufactured fertiliser segments grew 29 percent and 156 percent YoY respectively. Pick up in mining & infrastructure activities and replacement of imported Ammonium Nitrate would improve utilisation level of TAN. Major investments in 12th Five Year Plan would further fuel TAN demand. Healthy performance by chemical segment (including Nitric acid and Iso-propyl alcohol) provides strong revenue visibility for the company says Unicon Investment research report.

Currently Deepak Fertilisers is trading at 146 Its 52 week high has been impressive by reaching Rs188.50 and its 52 week low has been Rs118.20. It is trading with an average volume of 90,067 everyday.