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Buy Deepak Nitrite, price target Rs 375: Nirav Chheda

The analyst suggested a stoploss at Rs 347.

ETMarkets.com|
Updated: Dec 13, 2019, 12.23 PM IST
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Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 4848.09 Crore) operating in Chemicals sector.
Nirav Chheda of Nirmal Bang Securities has a buy call on Deepak Nitrite Ltd. with a target price of Rs 375.0 . The current price of Deepak Nitrite Ltd. is Rs 350.55 . Nirav Chheda recommended to keep a stoploss at Rs 347 .

Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 4848.09 Crore) operating in Chemicals sector.

Deepak Nitrite Ltd. key Products/Revenue Segments include Export Incentives which contributed Rs 17.34 Crore to Sales Value (0.96 % of Total Sales), Sale of services which contributed Rs 9.71 Crore to Sales Value (0.54 % of Total Sales), Other Operating Revenue which contributed Rs 3.70 Crore to Sales Value (0.20 % of Total Sales) and Scrap which contributed Rs 3.10 Crore to Sales Value (0.17 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 1003.33 Crore, down -4.53 % from last quarter Sales of Rs 1050.98 Crore and up 117.60 % from last year same quarter Sales of Rs 461.08 Crore Company has reported net profit after tax of Rs 150.41 Crore in latest quarter.

The company’s top management includes Dr.Richard H Rupp, Dr.Swaminathan Sivaram, Mr.Ajay C Mehta, Mr.C K Mehta, Mr.Deepak C Mehta, Mr.Maulik D Mehta, Mr.S K Anand, Mr.Sanjay Asher, Mr.Sanjay Upadhyay, Mr.Sudhir Mankad, Mr.Umesh Asaikar, Ms.Purvi Sheth, Prof.Indira Parikh. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 30-09-2019, the company has a total of 136,393,041 shares outstanding.

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