Graphite India gains after robust Q2 outcome

Graphite India rose 1.11% to Rs 980.65 at 14:21 IST on BSE after consolidated net profit surged 980.58% to Rs 1,113 crore on 344.13% spurt in net sales to Rs 2,345 crore in Q2 September 2018 over Q2 September 2017.

The result was announced during trading hours today, 6 November 2018.

Meanwhile, the S&P BSE Sensex was almost flat at 34,951.16.

On the BSE, 1.39 lakh shares were traded in the counter so far compared with average daily volumes of 1.36 lakh shares in the past two weeks. The stock had hit a high of Rs 998 and a low of Rs 953.90 so far during the day. The stock hit a 52-week high of Rs 1,126.40 on 14 August 2018. The stock hit a 52-week low of Rs 530.50 on 22 November 2017.

Graphite India is the pioneer in India for manufacture of graphite electrodes as well as carbon and graphite speciality products. The company's manufacturing facilities are spread across 6 plants in India and it has also got a 100% owned subsidiary at Nuremberg, Germany, by name Graphite COVA GmbH.

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