Deepak Nitrite acquires industrial land in Gujarat; stock up 0.5%

The company said that the industrial land will be utilized by the company for the future growth/expansion plans.

Jan 15, 2020 08:01 IST India Infoline News Service

Deepak Nitrite
Deepak Nitrite has acquired industrial land admeasuring around 125 acres situated at industrial phase, GIDC Industrial Estate, Dahej-2, Gujarat for a total consideration of Rs99.25cr.

The company has received the transfer order from the Gujarat Industrial Development Corporation (GIDC) in its favour in respect of the said industrial land and has paid the entire purchase consideration and other related charges.

The company said the industrial land will be utilized for the future growth/expansion plans.

Stock view:
Deepak Nitrite Ltd is currently trading at Rs391.20, up by Rs1.85 or 0.48% from its previous closing of Rs389.35 on the BSE.

The scrip opened at Rs388.90 and has touched a high and low of Rs394.75 and Rs386 respectively.

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