Deepak Nitrite shows stability above 2,000 levels, recommended for short-term buying with a target above 2700 levels. Neel .H. Parekh from GEPL Capital provides insights on swing highs, Fibonacci ratio, and potential gains.
The heavy outlay towards its expansion plans will mean there will be a spike in Deepak Nitrite s debt burden in the near future after becoming virtually debt-free in FY23
If an investor had invested Rs 10,000 in the stock 10 years ago and stayed put, the investment would have swelled to nearly Rs 6.5 lakh, according to an analysis by ET Markets. In the last five-year period, the shares have jumped nearly 623% and about 374% in the past three years.
According to a recent report by brokerage Anand Rathi, India’s chemicals sector is in a good position to profit from this change and capture a sizable share of the market.