As the global trade war shows signs of easing and foreign institutional investors continue to pour money into Indian markets, the Sensex rose by 500 points in early trade, while the Nifty 50 crossed the 24,450 mark. Amidst this upbeat sentiment, Kotak Mahindra Bank (NSE: KOTAKBANK) saw a dip in its stock price following a quarterly performance that fell well short of expectations. However, one stock you can consider keeping an eye on in today’s session is Deepak Nitrite Ltd.
Stocks to Buy Today
Here is the curated stock you may track in today’s trading session:
Deepak Nitrite Ltd. (NSE: DEEPAKNTR)
Deepak Nitrite is involved in chemical manufacturing and trading, operating through two segments: phenolics and advanced intermediaries. While the company’s fourth-quarter results for the financial year 2024-25 are yet to be disclosed, with an expected date of May 20, the company is in the spotlight due to its performance on the price chart. In the span of one month, the company has delivered returns of 8.46%, and over the past week, returns stood at 1.51%.
A few days ago, Deepak Nitrite’s subsidiary, Deepak Chem Tech, expanded its facility to manufacture 180 KTA of Acetone, 300 KTA of Phenol, and 100 KTA of Isopropyl Alcohol. Another subsidiary, Deepak Advanced Materials, recently commissioned facilities in Savli, Vadodara, Gujarat. All of these are pivotal factors in the long-term and short-term performance of Deepak Nitrite’s share price.
Tracking Deepak Nitrite is advisable, especially in light of increased US tariffs on China. This move is set to boost volumes for firms operating in speciality chemicals. Notably, the chemical sector holds significant exposure to the US market. The recent tariff hike on China, with a 90-day pause on India, stands to benefit these companies directly.
Key details of Deepak Nitrite Ltd. stocks:
| Closing Price (as of May 02, 2025) | ₹1989.60 |
| Trading Volume | 58,446 |
| Company Type | Smallcap |
| Market Cap | ₹27,551 crores |
| Beta | 1.09 |
Conclusion
Stocks perform in a highly volatile market with no assurance of guaranteed returns. Before placing your trade, it is important to study multiple chart patterns and analyse various indicators such as the Relative Strength Index, Bollinger Bands, and Moving Averages.
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