Multibagger stock: Rs1 lakh become Rs1.11 crore in this chemical stock in 10 years

24 Aug , 2021 By : Kanchan Joshi

Multibagger stock: In stock market, money is not in buying and selling, but in hold. Glaring example of this is Deepak Nitrite shares. The chemical stock shot up from Rs18.50 per stock mark (closing price at NSE on 26th August 2011) to Rs2055 (closing price at NSE on 23rd August 2021) in around 10 years — delivering more than 11,000 per cent return to its share holders in this period. However, if we go by the market experts, they still see some more gain in the stock.

Deepak Nitrite share price history

Deepak Nitrite share price has delivered around 7 per cent return to its share holders in the last one month while in the last six months; the chemical stock has given around 55 per cent return. It is one of the multibagger stocks in 2021 in India as it has given around 172 per cent return to its share holders in the last one year. In the last 5 years, Deepak Nitrite shares have yielded around 1940 per cent return to the investors. However, for those who invested in this stock 10 years ago and remained invested in the counter throughout this period, their return is more than 11,000 per cent as the stock shot up from Rs18.50 per stock mark to Rs2055 per stock levels.

Impact on investment

Taking cue from Deepak Nitrite share price history, if an investor had invested Rs1 lakh in this stock one month ago, its Rs1 lakh would have become Rs1.07 lakh today. If the investor had invested Rs1 lakh in this chemical counter six months ago, its Rs1 lakh would have become Rs1.55 lakh today. Similarly, if the investor had invested Rs1 lakh one year ago its Rs1 lakh would have become Rs2.72 lakh. However, if an investor had invested Rs1 lakh in this stock 5 years ago, its Rs1 lakh would have become Rs20.40 lakh today and this Rs1 lakh would have become Rs1.11 crore if the investment was done 10 years ago.

Deepak Nitrite share price outlook

Expecting further rise in Deepak Nitrite shares; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "On technical chart pattern, Deepak Nitrite looks positive and it may go up to Rs2,400 per stock levels in next 2 months. However, one must maintain the strict stop loss at Rs1960 while taking position in this counter and maintain buy on dips till the stock is above Rs2000 per stock mark."

The research team of Motilal Oswal has also predicted further rise in the counter giving next Deepak Nitrite share price target of Rs2,350.