Deepak Nitrite is a leading and rapidly growing chemical company in India. Its shares have seen significant growth over the past few years, making it a multibagger. In this article, we will provide information on the projected Deepak Nitrite share price target for the period between 2023 to 2050, based on the analysis of stock market experts. Without any delay, let us proceed.
About Deepak Nitrite
Deepak Nitrite Limited is a renowned chemical manufacturing company based in India. The company has been in operation since 1970 and has emerged as one of the leading players in the Indian chemical industry.
Deepak Nitrite was founded by CK Mehta, a trusted name in the chemical industry. Currently, the Chairman & MD of the company is D.C. Mehta, while Maulik Mehta serves as CEO & Executive Director, Meghav D. Mehta is an Executive Director, and S.K. Anand is a Non-Executive Director.
Deepak Nitrite boasts 50 Fortune 500 companies as their business partners and counts Reliance, Hindustan Unilever, Indian Oil, and Lubrizol among the giants in their client portfolio. Overall, it is a company that has already demonstrated its worth and proven to be good.
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Deepak Nitrite Stock Analysis
Data As of 25th August 2023
Current Market Price | Rs. 2,018 |
Market Cap | Rs. 27,531 |
P/E Ratio | 35.9 |
EPS | 56.26 |
52 Week High | Rs. 2,357 |
52 Week Low | Rs. 1,730 |
Book Value | Rs. 300 |
Dividend Yield | 0.37% |
ROCE | 29.7% |
ROE | 22.7% |
Promoters Holding | 49.13% |
FIIs Holding | 8.09% |
DIIs Holding | 15.61% |
Public Holding | 27.16% |
The company’s sales and profits have shown impressive growth over the past few years, and the stock price has followed suit. The majority of the company’s revenue comes from Europe and Asia. Deepak Nitrite produces products for nearly every industry, indicating a diversified portfolio and a strong global reach.
Positive Points About Deepak Nitrite Stock:
The company is free from debt and has maintained an effective average operating margin of 24.33% over the last 5 years. It also has a healthy interest coverage ratio of 234.46 and has delivered strong profit growth of 87.0% CAGR over the last 5 years. Additionally, the company has a solid track record of return on equity (ROE) with a 3-year ROE of 40.1%. Furthermore, the promoter holding has increased by 3.41% over the last quarter.
Negative Points About Deepak Nitrite Share:
There aren’t many negative aspects of the company at present. However, it is worth noting that competition within the industry could potentially affect the company’s revenue in the future.
Deepak Nitrite Share Price Target 2023 to 2050 by Experts’ Analysis
Over the past few years, the share price of Deepak Nitrite has shown a significant upward trend. In 2001, the value of Deepak Nitrite stock was Rs. 2.10. By 2011, the share price had risen to Rs. 15.20. In 2016, it reached Rs. 85, and as of April 2023, the share is trading at Rs. 1888. This represents a substantial return on investment and clearly indicates that it is a multibagger. In the last 23 years, it has provided an absolute return of 84,523%.
Seeing such returns, it becomes evident that nothing is impossible in the stock market. It requires hard work and analysis to become rich in the market. Dreams can be built and realized here. The case study of Deepak Nitrite is a source of motivation for those disappointed investors who believe that the stock market is just gambling or a scam.
Now, let us turn our attention to the future of Deepak Nitrite’s stock. The past is behind us, and it is our future that we strive to make bright.
![deepak nitrite share price target 2023](https://sharekingz.com/wp-content/uploads/2023/07/deepak-nitrite-share-price-target-1024x1024.webp)
Year | Deepak Nitrite Stock Price Target |
2023 | Rs. 2,454 |
2024 | Rs. 3,068 |
2025 | Rs. 3,682 |
2026 | Rs. 4,786 |
2027 | Rs. 5,360 |
2028 | Rs. 6,915 |
2029 | Rs. 8,989 |
2030 | Rs. 11,686 |
2031 | Rs. 12,855 |
2032 | Rs. 14,140 |
2033 | Rs. 18,382 |
2034 | Rs. 23,897 |
2035 | Rs. 31,066 |
2036 | Rs. 40,386 |
2037 | Rs. 48,463 |
2038 | Rs. 63,002 |
2039 | Rs. 81,903 |
2040 | Rs. 98,284 |
2041 | Rs. 115,975 |
2042 | Rs. 150,767 |
2043 | Rs. 195,998 |
2044 | Rs. 254,797 |
2045 | Rs. 331,236 |
2046 | Rs. 430,607 |
2047 | Rs. 559,789 |
2048 | Rs. 727,726 |
2049 | Rs. 946,044 |
2050 | Rs. 1,229,857 |
Before proceeding with the article, we would like to inform you that the target price mentioned here is solely for educational purposes. It is not a trading recommendation. It is advisable to conduct your own analysis or seek the advice of a financial advisor before making any investment decisions.
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FAQs Related to Deepak Nitrite Share Target Price
Why Deepak Nitrite share price rising?
The increase in Deepak Nitrite’s stock price is driven by the growth of the business. The company has witnessed significant growth in both revenue and profit in the past, which is reflected in the rising share price.
Is Deepak Nitrite share fundamentally strong?
We can conclude that Deepak Nitrite is a fundamentally strong stock with excellent metrics such as ROE, ROCE, and P/E ratio, along with significant revenue growth.
Is Deepak Nitrite a good buy now?
Your investment strategy will determine whether Deepak Nitrite stock is suitable for you. Nevertheless, considering the stock’s PE ratio of 35.9, which is lower than the industry average, it does not seem overvalued currently. Therefore, it could potentially be a good purchase at the present time.
To sum up, the stock price of Deepak Nitrite has been consistently increasing over the past years due to the company’s impressive financial performance and favorable market outlook. This trend is anticipated to persist in the future, however, it is advisable to regularly monitor the company’s financial statements. Keep learning and earning!
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