Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 27412.27 Crore) operating in Chemicals sector.

Motilal Oswal recommended Neutral rating on Deepak Nitrite with a target price of Rs 1887 in its research report dated August 03, 2022.

Asian stocks opened in deep red on Tuesday on fresh geopolitical worries after US House Speaker Nancy Pelosi's potential visit to Taiwan sparked fresh tensions between China and the United States. MSCI's index of Asia-Pacific shares outside Japan was down by 1.49 per cent.

Adani Green, Siemens, Indus Towers, Bosch, Godrej Properties, Voltas, Deepak Nitrite, Thermax, Bank of India, Brigade Enterprises, Saregama and Shyam Metalik are among the companies that will announce their earnings for the quarter ended June 2022.

Technical indicators are giving positive signals as Info Edge is trading above the 20 and 50 days SMA and there also recently a positive moving average crossover as the 20 days SMA moved above the 50 days SMA.

A Motilal Oswal analysis of 49 chemical companies suggests that these entities have announced a cumulative capex of Rs 23,200 crore for FY22-24

Rupee depreciation brings speciality chemicals space in focus: Galaxy Surfactants, Vinati Organics top picks. The opportunity for exports owing to global demand in the backdrop of the China+1 strategy has driven the Indian specialty chemical companies to expand aggressively over the past three years with companies having expansion plans in place for the next three years too.