Deepak Fertilisers & Petrochemicals Corporation said Friday its subsidiary Smartchem Technologies (STL) has incorporated 'Platinum Blasting Services' (Platinum) as its overseas venture for mining services in Brisbane, Australia.

Platinum is a joint venture with local Australian partners, who have vast experience in providing value added blasting services and operation expertise to the mining and explosives industries in Australia. STL will hold 65% while the local partners will hold 35% in the joint venture. The local partners collectively bring over 80 years of domain knowledge to the venture.

Shares of the company gained Rs 4.05, or 2.53%, to settle at Rs 164.00. The total volume of shares traded was 47,399 at the BSE (Friday).