Sell Deepak Nitrite, target price Rs 1,488: HDFC Securities

HDFC Securities has issued a sell call on Deepak Nitrite Ltd., targeting a price of Rs 1488. The company reported a total income decline of 6.28% from the previous quarter. They are expanding into polycarbonate manufacturing with significant investment, but this will result in a debt-ridden balance sheet and reduced RoCE by FY29. Promoters hold a 49.24% stake.