Buy Deepak Nitrite, target price Rs 2895: JM Financial

JM Financial has buy call on Deepak Nitrite with a target price of Rs 2895. The current market price of Deepak Nitrite Ltd. is Rs 2237.65. 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 30647.52 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 30-06-2022, the company reported a Consolidated Total Income of Rs 2067.60 Crore, up 10.22 % from last quarter Total Income of Rs 1875.89 Crore and up 34.74 % from last year same quarter Total Income of Rs 1534.47 Crore. Company reported net profit after tax of Rs 234.62 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.