10 Ki Kamai: Deepak Nitrate stock-market expert Sandeep Wagle gives his call; see what he said

Market expert Sandeep Wagle gave a call for Deepak Nitrate stock, saying this is for a period of one month.

10 Ki Kamai: Deepak Nitrate stock-market expert Sandeep Wagle gives his call; see what he said
Sandeep Wagle suggests that one can go ahead with buying as the rate is 310-311, adding that his target for Deepak Nitrate is at 350-360. Image source: Zee Business
By ZeeBiz WebTeam
Updated: Tue, May 28, 2019
01:56 pm
New Delhi, ZeeBiz WebDesk
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The general elections are over and the results have returned PM Narendra Modi led NDA government to power leading to markets soaring. Investors are now keen to know about what happens next and how to further grow their wealth.  In equity talk programme, 10 Ki Kamai, Zee Business Managing Editor Anil Singhvi asked Sandeep Wagle, who is one of the top technical analysts of stock markets with 20 years of experience, about the choice of his stock post-elections. Wagle said that he was not comfortable with cash stocks in pre-election period, but expects that moves in this segment will come now according to certain patterns. He gave a call for Deepak Nitrate stock, saying this is for a period of one month.

Wagle suggests that one can go ahead with buying as the rate is 310-311. He added that his target for Deepak Nitrate is at 350-360, and the time frame will be one to one-and-half-month. 

In the first week of May, Deepak Nitrite Limited announced its Q4 result, for financial year ended 31st March, 2019, showing superlative performance in the points given below. 

1. Standalone Revenues at Rs 487.8 crore vs Rs. 399.3 crore in Q4 FY18, up by 22% 
2. EBITDA at Rs 110.7 crore vs Rs 55.4 crore in Q4 FY18, growth of 100%
3. Standalone PAT at Rs 56.6 crore vs Rs 20.3 crore in Q4 FY18, higher by 178%
4. Consolidated Quarterly Turnover crosses Rs 1,000 crore milestone in Q4 FY19 
5. Supported by strong performance of Phenol & Acetone plant Consolidated PBT grows
142% yoy to Rs 268 crore in FY19
6. Board recommended dividend of Rs 2 per share for FY19 (100% of FV) 

Ranked among Fortune Next 500 and recognized among the top 25 wealth creators by Fortune Magazine, Deepak Nitrite is acknowledged as one of the country's fastest growing chemical companies. The company has a diversified portfolio of intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas.