powerfulpicks stock opinion: In this market that looks confused about which way to go after having reached previously untraversed paths, it is better to go for scripts which hold a lot of promise for the future, so that even if the market decides to retract, it should bounce back with ease and even go further beyond. DEEPAK NITRITE (BSE: 506401, NSE: DEEPAKNTR) is one such script. It has had a good run, but looks still cheap at a P/E and P/BV of less than 9 and last few day's movement suggesting a restlessness for a further up move. The company did well in June quarter and has lined up new fuel additive products for refineries to make the fuel euro compliant, which is the way India will go in near future. Its other products are used in the bulk manufacture of drugs, rubber, optical brightening and manufacture of agro chemicals. It also manufactures regular chemicals like ammonia, sulphuric acid, benzene, which has wide usage and even urea.
Buy at 190 for a modest 1 year target of 250 (+31.6%)
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