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Deepak Nitrite is currently trading at Rs. 2585.00, up by 84.45 points or 3.38% from its previous closing of Rs. 2500.55 on the BSE.

The scrip opened at Rs. 2460.35 and has touched a high and low of Rs. 2637.00 and Rs. 2459.00 respectively. So far 25305 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3168.65 on 01-Aug-2024 and a 52 week low of Rs. 2022.80 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 2908.00 and Rs. 2459.00 respectively. The current market cap of the company is Rs. 35088.47 crore.

The promoters holding in the company stood at 49.24%, while Institutions and Non-Institutions held 28.98% and 21.78% respectively.

Deepak Nitrite’s wholly owned material subsidiary -- Deepak Chem Tech (DCTL) has received approval from board of directors to undertake a project for manufacturing Potycarbonate Resins (PC) with an investment of around Rs 5,000 crore including greenfield infrastructure capex, subject to completion of detailed engineering, which shall be funded through a suitable mix of debt and equity.

Towards this, DCTL has entered into agreements with Trinseo Deutschland Anlagengesellschaft mbH and Trinseo Europe GmbH (collectivety referred to as Trinseo) for acquisition from Trinseo, PC manufacturing assets, having a capacity of 165,000 Metric Tonnes and PC technology License.

The purpose of the agreements is to acquire from Trinseo, PC technology license and Trinseo's PC manufacturing assets, including all proprietary equipment, situated at Stade in Germany, which shall be relocated to India and set-up at Dahej and thereby to undertake the project for manufacturing Polycarbonate Resins, approved by the Board of Directors of DCTL.

Deepak Nitrite is a leading manufacturer of organic, inorganic, fine and specialty chemicals.