Deepak Nitrite recovers on Bargain Hunting

Deepak Nitrite share price rose 4.51% to Rs 85.25 at 12.35 IST on NSE, with the stock recovering on bargain hunting after recent steep slide.

Till now, around 1,02,607 shares are traded on the counter so far as against the average daily volumes of 61,111 shares in the last one quarter. The stock hit a high of Rs 86.20 and a low of Rs 82.15 so far during the day.

The stock had made a record high of Rs 134.25 on 9 September 2016 and the 52-week low value is recorded at Rs 56.10 on 12 February 2016. It had underperformed the market for the past one month till 26 December 2016, slipping 12.67% compared with the Sensex's 1.94% fall. The scrip had also underperformed the market in past one quarter, declining 30.78% as against the Sensex's 8.79% fall.

Deepak Nitrite share price tumbled 17.6% in the preceding seven straight trading sessions to settle at Rs 81.65 yesterday on 26 December 2016, from its close of Rs 99.10 on 15 December 2016.

Deepak Nitrite Share Price Seems To Be On A Roll On NSE

Deepak Nitrite share price last traded (yesterday) at Rs 94.7, representing a move of 1.72 per cent, or Rs 1.6 per share, on volume of 3,330 shares. After opening the trading day at Rs 94.95 today, Deepak Nitrite share price soared as much as 11 per cent. Currently, it has a total traded volume of almost 2 lac shares and on average sees shares exchange hands each day. The stock now has a 52-week low of Rs 56 and high of Rs 134.

Return Ratios:

FY16	FY15	FY14	FY13	FY12
Return on Equity (%)	15.87	16.39	13.1	12.85	9.47
Return on Capital Employed (%)	13.9	12.3	11.9	10.21	10.42

Margin Ratios:

	FY16	FY15	FY14	FY13	FY12
Gross Profit Margin (%)	9.21	7.33	6.49	6.03	5.87
Operating Profit Margin (%)	11.97	10.02	8.56	7.06	7.2
Net Profit Margin (%)	4.59	3.78	2.83	3.11	2.75

Moving Average of the stock:

20 days – Rs 94

50 days – Rs 108

100 days – Rs 108

200 days – Rs 91

  

Deepak Nitrite Limited is in the Chemicals sector, having a market capitalization of Rs 1,075.08 cr. It has reported sales of Rs 302.57 cr and a net profit of Rs 15.41 cr for the quarter ended September 2016 (Q2). For FY16, the company has recorded a share capital of Rs 23.26 cr as compared to FY15 at Rs 20.91. At 9:59 am, Deepak Nitrite share price was trading 9.83 per cent higher on the NSE.   

Deepak Nitrite is analyzed by Dynamic Levels Researchers and stock analysts as the top 500 performing scrips for this quarter among 1700 scrips which are listed on the National Stock Exchange (NSE). 

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Deepak Nitrite share price history.