Buy Deepak Nitrite, target price Rs 2535: JM Financial

JM Financial has buy call on Deepak Nitrite Ltd. with a target price of Rs 2535.0. The current market price of Deepak Nitrite Ltd. is Rs 2145.95. Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 29295.18 Crore) operating in Chemicals sector.

Deepak Nitrite Ltd. key Products/Revenue Segments include Fine Chemicals, Export Incentives, Sale of services, Scrap and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1800.21 Crore, down -8.80 % from last quarter Total Income of Rs 1973.93 Crore and down -12.93 % from last year same quarter Total Income of Rs 2067.60 Crore. Company has reported net profit after tax of Rs 149.90 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 49.13 per cent stake in the company as of 30-Jun-2023, while FIIs owned 8.09 per cent, DIIs 15.33 per cent.