Buy Deepak Nitrite, target Rs 346: Siddharth Sedani

Siddharth Sedani

Deepak Nitrite's new greenfield expansion plan at Dahej, Gujarat for manufacturing phenol (2,00,000 ton/year) and acetone (1,20,000 ton/year) should provide a significant increase in its top line and profitability.

The project is now well into its pre-commissioning activity and the company has set up a marketing team for customer outreach of the new products.

We reiterate our coverage on Deepak Nitrite Limited with a BUY rating and a target price of Rs 346 per share.

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