Graphite India recovers after recent slide

Graphite India rose 2.16% to Rs 177.60 at 12:42 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 220.68 points, or 0.7% at 31,581.31. The S&P BSE Mid-Cap index was up 63.88 points, or 0.43% at 15,001.70.

On the BSE, 1.20 lakh shares were traded on the counter so far as against the average daily volumes of 96,444 shares in the past one quarter. The stock had hit a high of Rs 179.40 and a low of Rs 173.80 so far during the day. The stock had hit a record high of Rs 192 on 4 July 2017 and a 52-week low of Rs 70.10 on 30 September 2016.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 45.66% compared with the Sensex's 0.29% rise. The scrip had also outperformed the market over the past one quarter advancing 43.2% as against the Sensex's 5.57% rise. The scrip had also outperformed the market over the past one year advancing 121.89% as against the Sensex's 15.29% rise.

The mid-cap company has equity capital of Rs 39.08 crore. Face value per share is Rs 2.

Shares of Graphite India had declined 7.35% in the preceding three trading sessions to settle at Rs 173.85 on Friday, 7 July 2017, from its closing price of Rs 187.65 on 4 July 2017.

Graphite India's net profit spurted 117% to Rs 61.97 crore on 6.9% increase in net sales to Rs 373.39 crore in Q4 March 2017 over Q4 March 2016.

Graphite India is engaged in the manufacture of graphite electrodes including carbon and graphite specialty products.

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