The company reported quarterly net profit at Rs. 63.61 crore in June 2020 down 40.71 percent from Rs. 107.28 crore in June 2019. EBITDA stood at Rs 102.47 crore in June 2020 down 45.54 percent from Rs. 188.17 crore in June 2019.
Deepak Nitrite shares fell marginally in trade on July 29, but rallied 92 percent from its March 23 low
The company's net income on a consolidated basis jumped significantly to Rs 1,134.52 crore during the third quarter of 2019-20 as compared with Rs 767.72 crore in the year-ago.
We expect phenolic business to show improved profitability and any expected decline in temporary higher DASDA prices should offset the bottom line.
CD Equisearch is bullish on Deepak Nitrite has recommended buy rating on the stock with a target price of Rs 332 in its research report dated March 26, 2019.
The improvement in operating performance was mainly attributable to a combination of higher realisation of products across all business segments, operating leverage and cost rationalisation in operations.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 33.5 points or 0.31 percent. Nifty futures were trading around 10,991-level on the Singaporean Exchange.
On the technical front, 10,920-10,950 spot levels is a strong support zone and expect Nifty to expire in the band of 11,000-11,200 levels.
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 11,002-level on the Singaporean Exchange.
Considering the technical evidence discussed above, we believe that, short-term pullback rally is on the cards and bottom of 10,750 levels should not be violated soon.
Deepak Nitrite has reported a sales total income from operations of Rs 421.02 crore and a net profit of Rs 21.78 crore for the quarter ended Jun-2018
Deepak Nitrite on Monday said its board has approved raising up to Rs 150 crore through sale of shares to institutional investors.
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CD Equisearch is bullish on Deepak Nitrite has recommended buy rating on the stock with a target price of Rs 251 in its research report dated October 12, 2017.
Revenues stood at Rs 361.63 crore as compared to Rs 339.39 crore in Q1 FY17, representing a growth of 7 per cent, a company statement said here.
Tata Chemicals' Q1 consolidated net profit was down 13.6 percent at Rs 178 crore versus Rs 206 crore.