Chemical sector giant Deepak Nitrite has given shocking returns more than their costs by earning its shareholders in the long run, which is why it is on the radar of every investor out there.
Hence, we are here with the year-wise analysis of Deepak Nitrite share prices so you can have an idea whether to go for these shares or not.
Share price Target 2022
You will see a one-sided uptrend when it comes to Deepak Nitrite’s share prices. The basic reason for this is that the demand for all types of chemicals is continuously increasing.
While China was earlier the largest chemical exporter in the past, but now with the epidemic, most of the countries are slowly moving away from being dependent on China.
Owing to this, the companies like Deepak Nitrite of India seem to be getting more and more benefits. Looking at the way the demand for chemicals is increasing, it can be said that in the coming year, the company’s business is going to grow with good growth.
If seen in a short time, then you will be seen showing the first target of Rs 3290. After that, the second target is to buy for Rs 3400.
Share price target 2023
The demand for the company’s Fine & Specialty Chemicals has been growing very fast since the last few years. The chemical this company manufactures is rarely seen in the market, due to which its profit is also high, which is why Deepak Nitrite is seeing its business growing faster than other chemical sector companies.
If the demand continues to grow like this in the coming years also, then Deepak Nitrite’s share price can be expected to show you the first target of Rs 4400. As soon as you touch this target, you see Rs 4650 for another target.
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