Deepak Nitrite: Analysts see further upside despite 135% rally in 6 months

Deepak Nitrite got a shot in the arm on Thursday when the government announced to extend anti-dumping duty on phenol exported from the European Union and Singapore till June 7, 2021

Deepak Nitrite has been the largest producer of phenol and acetone in India since 2018
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Deepak Nitrite has been the largest producer of phenol and acetone in India since 2018

Nikita Vashisht New Delhi
Shares of Deepak Nitrite have held out against the market volatility over the past two weeks. As against a per cent decline in the frontline S&P BSE Sensex, the stock has jumped nearly 23 per cent during the period.
 
Over the past six months, the stock has clocked a massive 135 per cent rally compared with a 27 per cent gain in the Sensex index. And analysts see more upside to the rally.
 
“We believe Deepak Nitrite’s stellar stock performance over the past two years has been driven by the firm’s proactive strategy of pushing for ‘Make In India’, even

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First Published: Mar 05 2021 | 11:41 AM IST

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