Shares of Paradeep Phosphates Ltd edged higher on Thursday, September 25, gaining 2.54% to trade at ₹197.55 apiece on the BSE. The rally came after a bulk deal involving promoter Zuari Maroc Phosphates.
According to exchange data, Zuari Maroc Phosphates purchased 97.5 lakh shares, representing about 1.2% equity in the company, at an average price of ₹182.06 per share. The deal size is pegged at around ₹178 crore.
Paradeep Phosphates, a leading fertilizer manufacturer, had closed the previous session at ₹192.65. Following the promoter stake buy, the stock saw strong investor interest in early trade, scaling an intraday high near ₹198.
The company is a key player in the domestic phosphatic fertilizer market, and the fresh promoter buying signals confidence in its growth prospects.
