Shares of DEE Development Engineers Ltd. saw a significant decline of almost 9% on Wednesday with the stock trading Rs 287. The share price came under pressure as the company is facing challenges that are disrupting shipments and energy supplies due to the Middle East conflict.
The Strait of Hormuz closure has impacted its export orders and that has set off a chain of consequences that extend beyond the immediate region, affecting shipping schedules, freight logistics, and energy supply chains across a large part of the world, the company said in its regulatory filing.
For DEE Development Engineers, the immediate consequence has been on their export orders to customers in the Middle East region. Certain shipments that were scheduled for execution in the near term are now at risk of delay or non-fulfilment, which the company claims fall within the ambit of Force Majeure under the terms of their export contracts.
The company, in its regulatory filing, has informed that the supply of LPG and natural gas to industrial and commercial consumers has been regulated, with supplies capped at 80% (and fertiliser plants at 70%) of contracted volumes, in accordance with the Essential Commodities Act, 1955 and the Natural Gas (Supply Regulation) Order, 2026.
DEE Development Engineers Ltd. Share Price Today
Dee Development Share Price Today.
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The scrip fell as much as 8.97% to Rs 287 apiece intraday on Wednesday. This compares to a 0.55% rise in the NSE Nifty 50 Index. It has risen 19.18% in the last 12 months and 36.90% year-to-date. Total traded volume so far in the day stood at 8.83 times its 30-day average. The relative strength index was at 46.56.
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