Deepak Nitrite stock climbs 5% after Vanguard buys 12 lakh shares

Shares of Deepak Nitrite gained over 5% on Tuesday after Vanguard Group Inc picked shares in the company worth Rs 101 crore through an open market transaction.

On Monday (21 September), Vanguard Group Inc A/C Vanguard Emerging Markets Stock Index Fund bought over 12 lakh scrips of Deepak Nitrite at an average price of Rs 839.18 apiece, data available on the NSE showed.

Deepak Nitrite stock touched an intraday high of Rs 855, rising 5.16% on BSE against the earlier close of Rs 813.05 on BSE. The stock price of Deepak Nitrite traded in a wide range of Rs 79.05 and also touched an intraday low of Rs 775.95 earlier in the session, falling 4.56%.

Deepak Nitrite share is trading higher than 5, 20, 50, 100 and 200-day moving averages.

The scrip of the chemicals maker has risen 197.50% from its 52-week low of Rs 285.10 hit on 9 October 2019.

Shares of Deepak Nitrite closed 4.61% lower at Rs 814.5 yesterday. The stock has risen 30% in one month and 127% since the beginning of the year.

Market capitalisation of the firm stood at Rs 11,556 crore in today's session.

Vanguard fund bought 10,81,688 shares (0.79%) in Deepak Nitrite at Rs 861.54 each via a bulk deal earlier on 18 September 2020 .Rupee skids 13 paise to 73.51 per dollar amid weak equities, fund outflows