Buy Deepak Nitrite, target price Rs 1667: ICICI Direct

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Buy Deepak Nitrite, target price Rs 1667:  ICICI Direct


ICICI Direct has buy call on with a target price of Rs 1667. The current market price of Deepak Nitrite Ltd. is Rs 1637.8.

Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 22325.49 Crore) operating in Chemicals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1239.57 Crore, up 25.08 % from last quarter Total Income of Rs 991.04 Crore and up 9.25 % from last year same quarter Total Income of Rs 1134.60 Crore. Company reported net profit after tax of Rs 216.56 Crore in latest quarter.

Investment Rationale
Bullish Flag breakout& RSI in buy mode



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