Buy Deepak Nitrite, target price Rs 2760: JM Financial

JM Financial has buy call on Deepak Nitrite with a target price of Rs 2760. The current market price of Deepak Nitrite is Rs 1821. Time period given by analyst is one year when Deepak Nitrite Ltd. price can reach defined target.

Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 24759.43 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-2022.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 1875.89 Crore, up 7.32 % from last quarter Total Income of Rs 1748.02 Crore and up 27.68 % from last year same quarter Total Income of Rs 1469.17 Crore. Company reported net profit after tax of Rs 267.21 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 45.72 per cent stake in the company as of 30-Jun-2022, while FIIs owned 9.07 per cent, DIIs 10.71 per cent.