New Delhi, Nov. 19 -- Shares of Deepak Fertilisers and Petrochemicals Corporation have been under pressure since October. However, the recent correction could be an opportunity to buy this chemical stock due to the company's healthy growth outlook.

Brokerage firm Emkay Global Financial Services has initiated coverage on the stock with a buy recommendation, pegging the target price at Rs.2,000, implying a nearly 42 per cent upside from the stock's November 18 close of Rs.1,412.35 on the BSE.

Deepak Fertilisers' share price has dropped over 5 per cent in November so far (till the 18th) after an almost 1 per cent decline in October. On Wednesday, November 19, the stock rose over 3 per cent in intraday trade.

Deepak Fertilisers' share pric...