Buy Deepak Nitrite for the target of 2900 | almost 35% from here

About Company:-
Incorporated in 1970, Deepak Nitrite Ltd manufactures Basic Intermediates, Fine & Speciality Chemicals, Performance Products, and Phenolics.

Market Cap
₹ 28,453 Cr.
Current Price
₹ 2,086
High / Low
₹ 2,357 / 1,681
Stock P/E
33.4
Book Value
₹ 300
Dividend Yield
0.34 %
ROCE
30.0 %
ROE
22.9 %
Face Value
₹ 2.00
Debt
₹ 72.9 Cr.
EPS
₹ 62.5
PEG Ratio
0.56
Promoter holding
49.1 %
Intrinsic Value
₹ 2,611
Pledged percentage
0.00 %
EVEBITDA
21.3


PROS

Company has reduced debt.
Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 31.6%
Promoter holding has increased by 3.41% over last quarter.


Behatreen company hai with good management. Stock price also has given breakout of downsloping trendline and price is above 200 EMA. Volume has increased, MACD already given bullish crossover. All these indicating a bullish reversal in this ticker. For the trading perspective there will be target of 2900+ but if anyone wants to hold for long term can go with these levels and hold for the target of 5000+.

If anyone likes my work please like, follow and comment.
Thankyou.

Comment:

After breakout Stock retested the levels, now this is ready to fly in open blue sky.