Graphite India reverses recent rally on profit booking

Graphite India fell 1.98% to Rs 364.15 at 11:34 IST on BSE, with the stock reversing its prior four-day gains on profit booking.

Meanwhile, the S&P BSE Sensex was up 21.78 points, or 0.07% at 32,424.15. The S&P BSE Mid-Cap index was up 13.60 points, or 0.08% at 16,124.43.

On the BSE, 2.68 lakh shares were traded on the counter so far as against the average daily volumes of 4 lakh shares in the past one quarter. The stock had hit a high of Rs 376.40 and a low of Rs 361.15 so far during the day. The stock had hit a record high of Rs 387.30 yesterday, 19 September 2017. The stock had hit a 52-week low of Rs 70.10 on 30 September 2016.

The stock had outperformed the market over the past one month till 19 September 2017, gaining 46.93% compared with 2.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 149.75% as against Sensex's 3.48% rise. The scrip had also outperformed the market in past one year, surging 384.67% as against Sensex's 13.16% 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 gained 46.37% in the preceding four trading sessions to settle at Rs 371.50 yesterday, 19 September 2017, from its close of Rs 253.80 on 13 September 2017.

Graphite India's net profit spurted 167.97% to Rs 29.45 crore on 27% increase in total income to Rs 372.15 crore in Q1 June 2017 over Q1 June 2016.

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

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