Deepak Nitrite jumps after strong Q2 earnings

Deepak Nitrite surged 3.56% to Rs 85.80 at 14:43 IST on BSE after net profit jumped 111.51% to Rs 15.80 crore on 15.62% growth in total income from operations to Rs 363.71 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced during market hours today, 7 November 2014.

Meanwhile, the S&P BSE Sensex was down 86.03 points or 0.31% at 27,829.85.

On BSE, so far 7.83 lakh shares were traded in the counter as against average daily volume of 56,013 shares in the past one quarter.

The stock hit a high of Rs 89.85 and a low of Rs 79.30 so far during the day. The stock had hit a record high of Rs 106 on 23 June 2014. The stock had hit a 52-week low of Rs 27.50 on 6 November 2013.

The stock had outperformed the market over the past one month till 5 November 2014, advancing 7.39% compared with the Sensex's 5.07% rise. The scrip had, however, underperformed the market in past one quarter, advancing 0.36% as against Sensex's 7.75% rise.

The small-cap company has equity capital of Rs 20.91 crore. Face value per share is Rs 2.

Deepak Nitrite is a leading supplier of organic, inorganic and fine chemicals to global chemical majors.

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