Espresso shot of the day – Deepak Nitrite Ltd up by 8.08 percent

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Espresso shot of the day – Deepak Nitrite Ltd up by 8.08 percent

October 06, 2021
Espresso shot of the day – Deepak Nitrite Ltd up by 8.08 percent

DEEPAK NITRITE LTD. 2885.80 (+8.08 %) BSE – INE288B01029 | 6TH OCTOBER 2021

At Deepak Group, they are committed to create a socially inclusive and empowered society. Their CSR Wing, Deepak Foundation, started by Mr. CK Mehta, the group’s Chairman-Emeritus in 1982 in Vadodara, India, is positively impacting the lives of over 2 million people though multi-faceted programs . Their foundation is partnering with various private and public entities to empower underprivileged communities. With its footprints in 5 states in India, Deepak Foundation is steadily building an equitable social order. Deepak Nitrite manufactures chemical intermediates to serve the domestic and international market with high-quality products made in a responsible and sustainable manner.

Recent Drivers

  • Widening power shortages in China have halted production at numerous factories, including many chemical manufacturers, which could benefit Indian speciality chemical makers.
  • Supply disruption for phenol and acetone in Asia recently has meant a further rise in realisations and thereby better prospects for Deepak Nitrite Ltd.
  • On July 29, 2021, Deepak Nitrite reported quarterly net profit at Rs 302.63 crores in June 2021, up 205.84% from Rs 98.95 crores in June 2020.
  • On July 29, 2021, Deepak Nitrite reported net sales at Rs 1,526.22 crores in June 2021, up 126.28% from Rs 674.49 crores in June 2020.
(Sources: Moneycontrol, Livemint, Business Standard)


Technical Force*

  • S&P BSE 500 month till date gain up by -0.94%
  • Traded on all-time-high value: 2932
  • 3 months avg. NSE volume: 12,28,378
  • Quantity traded: 2,04,800 | Deliverable quantity: 28,2333 (13.79%)
  • Stock price has jumped more than 300% from one-year-low level: 701.85 (Oct 20, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 2932 | 52-week-low: 701.85

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

1806.27

1380.53

1161.47

735.73

516.67

90.93

-

    -

Fibonacci Pivot

1380.53

1134.22

982.05

884.04

735.73

587.43

489.42

337.25

90.93


Today’s Close

2885.80

SMA

BSE

10 DAY

2511.02

20 DAY

2462.39

50 DAY

2266.95

200 DAY

1696.57


Some Key Ratios (Source: BSE)

Market Cap: 39,360.3 crores

PE: 92.39

OPM%: 35.21

ROE%: 23.09

Promoters holding%: 45.69

Prev. Close: 2669.95

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.