From Rs 213 to Rs 2,335, this stock became a multibagger in three years

Multibagger Stock: The stock of Deepak Nitrite has given a return of more than 984 percent in the last three years. The stock of Chemical Industry Player, which closed at Rs 212.9 on December 24, 2018 rose to Rs 2,335 on the Bombay Stock Exchange (BSE) on Friday. An amount of Rs 1 lakh invested in Deepak Nitrite stock three years ago would have become Rs 10.96 lakh today. In comparison, the Sensex has gained 61.2 per cent during this period.

On Friday, the stock was trading at Rs 2,312, down 0.18 per cent on the BSE. The market cap of the firm was Rs 31,545 crore. The stock of Deepak Nitrite has gained 144.98 per cent since the beginning of this year and has climbed 154.23 per cent in one year. The stock has gained 7% in one month.

The stock opened with a gain of about 1 per cent on Friday at Rs 2,335.10. It touched a high of Rs 2335.25 on BSE. Share of Deepak Nitrite is higher than 5 day, 20 day and 200 day moving average but lower than 50 day and 100 day moving average.

On October 19 this year, the large cap stock touched a 52-week high of Rs 3,020. However, since then it has declined by 22.68% due to profit-booking. The stock touched its 52-week low of Rs 900 on December 24, 2020.

Deepak Nitrite is a chemical manufacturing company. The company’s segments include Basic Chemicals, Fine & Specialty Chemicals, Performance Products and Phenolics.

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