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Deepak Nitrite is currently trading at Rs. 82.70, up by 0.55 points or 0.67% from its previous closing of Rs. 82.15 on the BSE.
The scrip opened at Rs. 84.25 and has touched a high and low of Rs. 84.25 and Rs. 82.20 respectively. So far 11,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 106.00 on 23-Jun-2014 and a 52 week low of Rs. 21.10 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 85.00 and Rs. 81.40 respectively. The current market cap of the company is Rs. 858.78 crore.
The promoters holding in the company stood at 56.56% while Institutions and Non-Institutions held 6.38% and 37.06% respectively.
Deepak Nitrite has received an approval to undertake a project for manufacturing Phenol and Acetone with a capital outlay of around Rs 1,200 crore. The board of directors at its meeting held on August 07, 2014 has approved for the same.
The proposed Phenol Plant will be located at Dahej in the state of Gujarat. The capacity of the Phenol Plant will be 200,000 MTPA and that of co-product Acetone will be 120,000 MTPA.
The said Project is proposed to be funded with a suitable mix of debt and equity. The company is studying various financial options for raising resources based on which, the proposed Project may be set up either within the company or in a Special Purpose Vehicle as its subsidiary.
Deepak Nitrite is a leading manufacturer of organic, inorganic, fine and specialty chemicals and a world leader in 2,4 and 2,6 Xylidine.
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Here is the summary:
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