Graphite India hits 30-month low, tanks 25% in 5 weeks on weak Q3 results

Shares of Graphite India continued to remain under pressure and slipped 5 per cent on Thursday to hit a 30-month low of Rs 242 on the BSE on concerns of weak earnings going forward.

The stock of the graphite electrode maker was trading at its lowest level since August 22, 2017. In the past five weeks, it has tanked 25 per cent after reporting a consolidated net loss of Rs 353 crore in the December quarter (Q3FY20), due to steep fall in electrode prices. This was Graphite India's first quarterly loss in more than a decade. Earlier, in June