
Deepak Fertilisers incorporates subsidiary in Singapore to expand global trading footprint
By News Desk Published on April 23, 2025, 18:03 IST
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) announced on April 23, 2025, the incorporation of its wholly owned subsidiary 'Deepak Globalchem Pte. Ltd.' in Singapore. The move is aimed at strengthening the company's global presence in the commodities trading business.
The newly formed entity, Deepak Globalchem Pte. Ltd., has been set up with an initial capital investment of USD 10,000. The subsidiary will primarily focus on the purchase and sale of commodities, expanding DFPCL's reach beyond Indian markets. Although the company has been incorporated, it is yet to commence business operations.
As per regulatory disclosures, the promoters or promoter group of DFPCL hold no direct interest in the new entity beyond their stake in the parent company. The incorporation is classified as a related-party transaction under SEBI regulations due to the wholly owned nature of the subsidiary.
The company stated that the establishment of this subsidiary marks a strategic step in its global expansion and aligns with its long-term business objectives. With Singapore being a global trading hub, the new arm is expected to enhance DFPCL's access to international markets and facilitate more efficient trading operations.
The announcement was made at 3:11 PM on April 23, 2025, and further details are available on the company's official website.
Disclaimer: This news article is for informational purposes only and does not constitute investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
News desk at BusinessUpturn.com

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Eater
26 minutes ago
- Eater
A Fast-Casual Taiwanese Spot Joins the Midtown Lunch Fray
Yumpling, a Taiwanese fast-casual food business, began as a flea market stand before expanding with a Midtown food truck under the same name. In 2020, owner Chris Yu and partners opened a full-on takeout restaurant in Long Island City, which, over the past five years, has cemented itself as a standby in the Queens neighborhood. Now, he has returned to the neighborhood where it all began, opening a new outpost of Yumpling that joins the Midtown lunch fray, a couple of blocks from where the food truck launched. First announced in 2024, Yumpling Midtown is finally open as of this week: 'Truck days have proven that our food will do well in the city and, since we are more fast-casual than dine-in, we are hoping the young millennial work crowd will treat us well,' Yu told Eater upon initially announcing the expansion. The menu is similar to the LIC restaurant: their pan-fried dumplings (pork, chicken, veggie, or a mix), rice bowls (with fried pork chop, crispy chicken, lou rou fan, or basil eggplant), and noodle dishes, such as the classic beef noodle soup. There are a few seats, but the intent is to keep things moving. It follows on the heels of another Taiwanese spot that opened in the neighborhood last month, Jabä, over on East 58th Street, which showcases the cuisine in a sit-down environment. Yumpling Midtown is nearby at 16 E. 52nd Street, near Madison Avenue, accessible to office workers farther east and those closer to Rockefeller Center. Yumpling's set-up brings to mind spots like Milu, the fast-casual Chinese American bowl spot that debuted in Gramercy from Eleven Madison Park alum, Connie Chung, during the pandemic (it opened and then closed in Williamsburg, and there's a second remaining outpost in Battery Park's Brookfield Place). In the past five years, there have been several new bowl spots diversifying office lunch options in Manhattan, taking it to far more intriguing and personal places than your average Chipotle. These include the Indian-leaning and well-financed Inday, which has rebranded and cannibalized another bowl spot; Dùndú, just south of Grand Central, with Nigerian bowls; Sopo, a Korean bowl spot near Penn Station; and ThisBowl, a poke-ish bowl spot hailing from Sydney, now with two Manhattan locations, that has managed to make fast-casual cool in a chrome setting that could be a fashion boutique. See More: NYC Restaurant News NYC Restaurant Openings
Yahoo
31 minutes ago
- Yahoo
Bitcoin on the Brink: Institutional Firepower and IPO Frenzy Fuel Crypto's Next Big Move
Bitcoin (BTC-USD) briefly flirted with record territory on Tuesday, rising as much as 1.7% to $110,572 before easing backjust shy of its May 22 peak of $111,980. The digital asset is still up about 16% year-to-date, buoyed by expectations of a friendlier regulatory stance from the Trump campaign and optimism over improving trade dynamics with China. That shift in sentiment is nudging investors back into risk-on mode. Ether joined the rally too, jumping as much as 8% during the session. But this isn't just retail hype. A deeper undercurrent is at playone that's being driven by real institutional flows. Circle Internet Group Inc.'s IPO is the latest example. Priced at $31, it surged to $107 in just days, showcasing strong appetite for crypto-aligned equities. Meanwhile, BlackRock's IBIT ETF just hit $70 billion in assets under managementmaking it the fastest ETF ever to reach that mark. Michael Saylor's Bitcoin playbook is being replicated across the street, and it's pushing the narrative forward. There's a drumbeat of announcements, said Eric Jackson of Emj Capital. Sovereigns, treasuries, fundsthey're all leaning in. At the policy level, things could get even more interesting. A new wave of stablecoin legislation is in motion, aiming to bring more clarity to crypto regulation. If passed, it could hand institutional investors the regulatory green light they've been waiting for. Jake Ostrovskis at Wintermute sees this building momentum as a key force behind Bitcoin's recent price action. While short-term volatility remains, the structural trend is harder to ignore. A larger share of the market is starting to treat Bitcoin not as speculationbut as a legitimate asset class vying for a place next to gold. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 hours ago
- Yahoo
Bitcoin climbs as companies increasingly use tokens to 'hedge against inflation'
Bitcoin (BTC-USD) climbed toward a new high on Tuesday as investors continue to bet on the Trump administration's friendly stance toward the crypto industry and companies increasingly add the token to their balance sheets. As of 1 pm ET, the token was trading just below $109,000, roughly $3,000 away from touching its all-time intraday high in May. Greater adoption of the token has been driven in part by dozens of public companies getting on the bitcoin bandwagon. "Over time, bitcoin has proven itself to be a better hedge against inflation than many other asset classes," said Elliot Johnson, CEO of Bitcoin Treasury Corp., an advisory firm that helps companies acquire and hold bitcoin as part of their balance sheets. Johnson points out over the past five years, bitcoin is up over 1,000% while gold has returned about 92.5%. "Meanwhile, the US dollar has lost more than 20% of its value over the last five years due to inflation," said Johnson. However, the strategy spearheaded by Strategy and copied by dozens of companies, carries risks. 'The main risk in running a leveraged 'bitcoin treasury' strategy is that a rapid drop in the price of bitcoin would lead to a possibility of bankruptcy,' NYU Stern School of Business professor David Yermack told Yahoo Finance in a recent interview. On Monday, shares of bitcoin juggernaut Strategy (MSTR) jumped more than 4% after the company said it purchased 1,045 more tokens from June 2 to June 8, with total holdings now worth more than $62 billion, according to Bloomberg data. But 'MSTR's scale is hard to replicate,' Bernstein analyst Gautam Chhugani wrote in a May note. 'Not every Bitcoin treasury will be successful simply replicating MSTR's playbook, in our view.' Trump Media & Technology Group (DJT) shares fell more than 10% during one session in May after the Trump-backed company announced plans to create what it claims will be one of the largest bitcoin treasuries held by any public company. GameStop (GME) stock also slid nearly 25% immediately after the company announced in March it would raise $1.3 billion to buy bitcoin. Around 80 companies have adopted the so-called "bitcoin standard" by adding the token to their balance sheets. Corporates now hold roughly 3.4% of all tokens in circulation, according to Bernstein analysis. "Bitcoin is great, we love it and still believe $200K is our high-conviction but conservative price forecast this cycle," wrote Bernstein's Chhugan on Monday. The cryptocurrency is up more than 55% since President Trump, who promised a crypto-friendly framework, was elected last November. Trump's first order of business when he reentered the White House included the placement of a crypto-friendly advocate to head the Securities and Exchange Commission, and appointing a crypto-czar. Legislation in the Congress — which if passed, would regulate stablecoins, or digital assets backed by the US dollar — has lifted optimism over the crypto space. Senate Republicans are aiming to pass the bill this week. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data