Deepak Nitrite hits new high in subdued market; stock zooms 97% in 6 months

For Q3FY20, the company's phenol-acetone manufacturing subsidiary Deepak Phenolics clocked record quarterly turnover on the back of high utilization levels.

Shares of Deepak Nitrite continued their upward journey, surging 6 per cent to hit a new high of Rs 537, on the BSE on Tuesday on expectation that the strong run of earnings growth will continue despite the tailwinds.

In the past six months, the market price of the stock has zoomed 97 per cent, up from a level of Rs 272 touched on September 3. In comparison, the S&P BSE Sensex rose 5 per cent during the period.

Deepak Nitrite has a diversified portfolio of intermediates that caters to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and