Graphite India was locked in an upper circuit of 5% at Rs 217.15 on BSE on robust buying support.
Shares of Graphite India surged 104.08% in the past sixteen trading sessions to its current market price of Rs 217.15 from a closing low of Rs 106.40 obtained on Tuesday, 24 March 2020.
The stock has been locked in an upper circuit for the last twelve trading sessions since 31 March 2020. However, the scrip is still trading 52.65% lower than its 52-week high of Rs 458.70 hit on 29 May 2019.
On a consolidated basis, Graphite India reported net loss of Rs 353 crore in Q3 December 2019 compared with net profit of Rs 764 crore in Q3 December 2018. Net sales dropped 65.34% to Rs 643 crore in Q3 December 2019 over Q3 December 2018.
Graphite India is engaged in the manufacturing graphite electrodes, graphite equipments, steel, glass reinforced plastic (GRP) pipes and tanks and generation of hydel power. The firm operates through three segments: graphite and carbon, steel and others.
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