12 Jul , 2021 By : Kanchan Joshi
Multibagger stocks 2021: After first wave of Covid-19 in India, Indian stock market has witnessed huge number of multibagger stocks. However, the interesting fact for this time is high number of small-cap and mid-cap stock making a cut into the multibagger stocks 2021 list. But, for those investors who believes that big money is not in the buying or selling, but in the waiting — they have made much more than a mere multibagger returns. Deepak Nitrite is one such stock that has delivered 10,413.5 per cent return in the last 10 years.
Deepak Nitrite share price history
As per the Deepak Nitrite share price history, the chemical manufacturing company stock has skyrocketed from Rs18.50 per stock mark on 8th July 2011 to Rs1,945 per share levels on 9th July 2021. Means the stock has surged more than 105 times in the last 10 years.
Return to investors
As clear from the rise in Deepak Nitrite share price in the last 10 years, if someone had invested Rs1 lakh in the counter 10 years ago following ‘buy, hold and forget’ strategy, that Rs1 lakh would have become Rs1.05 crore ( Rs1 lakh x 105).
Deepak Nitrite share price outlook
Speaking on the fundamentals that is supporting Deepak Nitrite share price rally Arijit Malakar, Head of Research at Ashika Stock Broking said, “Deepak Nitrite reported robust Q4FY21 numbers led by volume and realization growth mainly firm phenolics prices driven by strong demand from end users. China 1 policy will benefit the company in long run and company is maintaining its leading market share in its respective products. Further, company has started Phenol plant and then diversified to specialty chemicals, which will improve its margin profile going ahead." Arijit Malakar went on to add that most of petrochemical product prices are going up in sync with rising crude oil prices but Deepak Nitrite has been able to pass on the higher input prices.
Deepak Nitrite share price target
Expecting further rally in Deepak Nitrite shares Mudit Goel, Senior Research Analyst at SMC Global Securities said, “Deepak Nitrite share price has been skyrocketing after giving breakout at Rs1,000 mark on 11th February 2021. In fact, stock is still looking positive on the chart pattern and one can buy this chemical counter for the one month target of Rs2040 to Rs2100 maintaining stop loss below Rs1880."
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