Mayur_Undale

Deepak Nitrite_45% upside chance

Long
NSE:DEEPAKNTR   DEEPAK NITRITE
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