Deepak Nitrite_45% upside chance

Mayur_Undale Updated   
Date: 23 July 2020
Deepak Nitrite (CMP 551.10)
Deepak Nitrite quarterly result is on 30 Jul.

Fundamentally it is a good company. Being into chemical business the pandemic situation should benefit the stock due to increasing demand. One of the best figures of RoCE, ROE, EPS, ROA and lower PE than Industry PE.

PE = 11.84, Industry PE = 12.94, ROE = 46.57, ROCE = 37.69, ROA = 24.74, EPS = 44.80, Debt/Profit = 1.81

If the stock price moves above 570 then expect big rally in the stock. It has consistently performed well over the last few years. It can show a movement of 260 points upside. Final Target would be 830.

T1- 650, T2- 740, T3- 830; SL- 480
Target Duration 4-5 months. (Dec 2020)
Trade active:
Initiate buy. Stock moved above 570.
Trade active:
T1 achieved