In this chemical inventory, 1 lakh will become ₹ 1.11 crore in 10 years. Analysts are still optimistic
Multi-excavator inventory: On the stock exchange, money is not bought and sold, but held. A stark example of this is Deepak Nitrite’s shares. The chemical share skyrocketed ₹18.50 per share brand (closing price on the NSE on August 26, 2011) to ₹2055 (closing price on the NSE on August 23, 2021) in about 10 years – and provides its shareholders with a return of more than 11,000 percent in this period. However, if we look to the market experts as a guide, they will still see another gain in the stock.
Deepak Nitrite share price development
Deepak Nitrite’s share price has brought shareholders a return of around 7 percent over the past month and six months; the chemical stock has brought about 55 percent return. It is one of the multibagger stocks in India in 2021 as it has brought its shareholders around 172 percent return over the past year. Over the past 5 years, Deepak Nitrite stocks have brought investors around 1940 percent return. However, for those who invested in this stock 10 years ago and stayed invested in the counter during that period, their return is more than 11,000 percent as the stock shot up from ₹18.50 per share ₹2055 per inventory.
Impact on Investments
Based on the price development of the Deepak Nitrite share, if an investor had invested ₹1 lakh in this share a month ago it is ₹1 lakh would have been ₹1.07 lakh today. If the investor had invested ₹1 lakh in that chemical counter six months ago it is ₹1 lakh would have been ₹1.55 lakh today. Likewise if the investor had invested ₹1 lakh a year ago ₹1 lakh would have been ₹2.72 lakh. However, if an investor would have invested ₹1 lakh in this share 5 years ago it is ₹1 lakh would have been ₹20.40 lakh today and that ₹1 lakh would have been ₹1.11 crore if the investment was made 10 years ago.
Outlook for the Deepak Nitrite share
Expects Deepak Nitrite shares to continue rising; Mudit Goel, Senior Research Analyst at SMC Global Securities, said: “On the technical chart pattern, Deepak Nitrite looks positive and can go up to ₹2,400 per inventory over the next 2 months. However, you have to adhere to the strict stop loss ₹1960 while taking position on this counter and continuing to buy on dips until the stock is above value ₹2000 per share brand. “
Motilal Oswal’s research team also forecast another spike in the counter, which is Deepak Nitrite’s next price target of ₹2,350.
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