Deepak Nitrite

Life Insurance Corporation on Thursday announced buying additional stake in speciality chemicals maker Deepak Nitrite to take its overall shareholding in the company to over 5 per cent. The Corporation's shareholding in Deepak Nitrite has increased from 67,88,327 to 68,58,414 equity shares, increasing its stake from 4.977 per cent to 5.028 per cent of the paid up capital of the said company, LIC said in a regulatory filing on Wednesday. The increase of 0.051 per cent was at an average cost of Rs 2074.49 per piece. This is an investment in the ordinary course of transaction through open market purchase, LIC said. Deepak Nitrite is manufacturer of organic, inorganic, fine and speciality chemicals. Shares of LIC closed at Rs 619.30 apiece on BSE, down by 0.30 per cent from previous close. Deepak Nitrite scrip ended at Rs 2008.05 apiece, down by 3.29 per cent.

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In the past one week, the stock price of Deepak Nitrite has declined 16 per cent after the company's manufacturing facility in the Nandesari GIDC area in Vadodara caught a massive fire.

Flames brought under on Thursday night, first aid treatment for injured

The Company said it has kept all concerned authorities informed and the plant operations are expected to resume in a day or two upon clearance of damaged warehouse.

Stocks to Watch: Aether Industries will be in focus as the speciality chemical maker is set to make its debut on the bourses today. The issue price has been fixed at Rs 642 per share.

Wipro will be in focus as the company's board will meet on March 25 to consider an interim dividend.

The Russia-Ukraine crisis has sprung up worries for the sector yet again as analysts say margins of chemical companies will be impacted due to the rise in prices of crude oil

In Q3FY22, its PAT was up 12 per cent at Rs 242 crore, on stable operational performance, partly bolstered by sharp reduction in finance costs owing to repayment of high-cost debt.

The company posted a net profit of Rs 242.46 crore for the quarter against Rs 216.56 crore in the year-ago quarter

The stock price has broken out on the daily chart where it has closed at highest levels since May 06, 2021 with higher volumes

India is emerging as a hub for specialty chemicals, helped by favorable policy measures.

However, they remain positive on the sector's long-term growth story on the back of ramp-up in China's environmental inspections and specialty chemical players having a healthy margin of safety

Going forward, growth over the medium term will be driven by trecovery in demand from Basic Chemical (BC) and Performance Product (PP) segments and continued steady outlook for FSC and Phenol segments

Shares of Reliance Industries and Future Group companies could react after the Delhi High Court upheld the Emergency Award that Amazon had won against Future Retail-RIL deal

Deepak Nitrite got a shot in the arm on Thursday when the government announced to extend anti-dumping duty on phenol exported from the European Union and Singapore till June 7, 2021

The consolidated Ebitda margin expanded 330 basis points (bps) to 27.4 per cent in Q3FY21

Shares of Deepak Nitrite on Monday closed 4.61 per cent lower at Rs 814.5 on the NSE

The latest rally in the stock came after the DGTR recommended imposing provisional anti-dumping duty on phenol imports from Thailand and the United States

BHEL's stock has provided a breakout from a falling wedge pattern on the daily chart