Business

This chemical stock made investors rich, money doubled in one year

Multibagger Stock: The year 2021 has given a large number of multibagger stocks, due to which investors have become ‘silver’. There are many such stocks, whose share price has seen a tremendous increase in the last one year. These include a chemical stock, Deepak Nitrite. Investors’ money in its shares has more than doubled so far in 2021. It has increased by 18 per cent in Nifty and 17 per cent in S&P BSE Sensex index as compared to last year.

how much did the price increase
This multibagger stock has increased from Rs 989 to Rs 2145. It has risen by 116 per cent since the beginning of this year and by 184 per cent in the last one year. Long-term investors have made huge profits by investing in this chemical stock, as it has grown by 1922 percent in the last five years and by 11,590 percent in the last ten years.

The company reported a net profit of Rs 302.63 crore for the quarter ended June 2021, as against Rs 98.95 crore in the year-ago period. Revenue from operations grew 126 per cent to Rs 1,526.22 crore in the June-ended quarter, from Rs 674.49 crore a year ago. According to a report, the company has declared positive results for 4 consecutive quarters and the company has a strong ability to repay the debt. The company has a low EBITDA ratio of 1.29 times.

Deepak Nitrite is an intermediate chemical company with diversified business of Basic Chemicals, Fine & Specialty Chemicals and Performance Products. It manufactures phenol, acetone and isopropyl alcohol (IPA) through its subsidiary Deepak Phenolics (DPL).

Currently, it is proving to be the most attractive stock in the entire specialty chemicals space. “Demand in OBA and DASDA (ie Performance Chemicals) is expected to improve in FY22, while demand for agrochemicals and personal care products remains strong. IndianOil, Hindustan Petroleum, GAIL, Naira Energy, Haldia Petrochemicals and HMEL Major players like petrochemical expansion are also underway, which will increase the demand for chemicals and specialty chemicals in the country.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

Also read: Multibagger Stock: In one year this stock turned into Multibagger, investors got 150% return

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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