New Delhi, Nov. 21 -- Deepak Nitrite has turned out to be the laggard of the Nifty Chemicals index this year, sinking nearly 30% in 2025 so far. And the mood around the stock isn't exactly upbeat for the future, either. Most brokerages remain wary about its near-term trajectory and aren't expecting a quick turnaround just yet.

"The company reported an in-line performance, but commentary on the near-term outlook was rather cautious. Hence, this triggered a sharp downward revision in our FY26E EPS by 32.7%," said Nuvama Institutional Equities in a report dated 14 November. The brokerage cut its FY27 and FY28 earnings forecasts by 8.5% and 8.0% and kept its 'hold' stance intact, while pruning the target price to Rs.1,718 from Rs.1,848.

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