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Rs 17 to Rs 2,024, Deepak Nitrite’s ‘Hanuman’ jump

Rs 17 to Rs 2,024, Deepak Nitrite’s ‘Hanuman’ jump

Chennai, Aug 5 (IANS) It is really an immense leap in a decade for the Deepak Nitrite scrip that was changing hands for about Rs 17 to Rs 2,024 on Friday.

The scrip even touched a 52 week high of Rs 3,020 and a 52 week low of Rs 1,682.

The company’s market cap was Rs 27,608 crore on Friday.

The Rs 2,511 crore revenue company manufactures chemical intermediates that are used in dyes, pigments, paper, agrochemicals, pharmaceuticals, detergents, personal care, fuel additives and others.

Some of the user industries are recession proof.

But the share price vaulting up is a decade story, the question is whether the scrip will give such phenomenal return over the next 10 years is the million dollar question.

According to the company, it is assessing the market conditions for coming with a QIP issue for meeting capex.

–IANS

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