ICICI Direct has buy call on with a target price of Rs 1640. The current market price of Deepak Nitrite Ltd. is Rs 1603.5.
Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 21813.34 Crore) operating in Chemicals sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1239.57 Crore, up 25.08 % from last quarter Total Income of Rs 991.04 Crore and up 9.25 % from last year same quarter Total Income of Rs 1134.60 Crore. Company reported net profit after tax of Rs 216.56 Crore in latest quarter.
Investment Rationale
Price rebound after taking support at 38.2% retracement
