ICRA has ratings outstanding of 'AA' and 'A1+' on watch with developing implications on Rs. 7.91 billion non-convertible debenture programme, Rs 1.50 billion commercial paper programme and Rs 17.46 billion bank lines of Deepak Fertilisers & Petrochemicals Corporation (DFPCL). 
 
ICRA notes that the supply of domestic gas to the Deepak Fertilisers & Petrochemicals Corporation's (DFPCL) Plant situated at Taloja, Maharashtra has been stopped by Gas Authority of India (GAIL) and Reliance Industries (RIL) from May 15, 2014 pursuant to the order by Ministry of Petroleum & Natural Gas (MoPNG), Government of India. The company has already approached the High Court of New Delhi to seek appropriate remedial measures.
 
In ICRA's view, the financial risk profile of the company would be adversely impacted if the company is not able to get the stay order against the decision of MoPNG to stop the domestic gas supply.

ICRA is closely monitoring the developments and would conclude its rating action based on developments in this regard.

Shares of the company gained Rs 2.35, or 1.66%, to settle at Rs 143.90. The total volume of shares traded was 152,310 at the BSE (Tuesday).