IIFL has buy call on Deepak Nitrite with a target price of Rs 1125. The current market price of is Rs 1093.75.
Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 15027.79 Crore) operating in Chemicals sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 987.34 Crore, up 46.38 % from last quarter Sales of Rs 674.49 Crore and down -1.59 % from last year same quarter Sales of Rs 1003.33 Crore Company reported net profit after tax of Rs 170.19 Crore in latest quarter.
Investment Rationale
Stock has given a flag pattern breakout on the daily chart.
