Shenoy told CNBC-TV18, "Graphite India is probably one of the few input cycle to the steel cycle, which is probably on a good footing right now. The industry generally buys from the crude cycle and sells to the steel cycle and both cycles are benign for the industry and Graphite being one of the larger players here in India; cash flush, it has the ability to implement its capex."
He further added, "We have a target of around Rs 150-151 for this. So that leaves substantially on the table and we are confident that the same could be achieved because there aren't any glitches on the output side and on the input side I think you have got a fair amount of stability as well as predictability coming in."
At 14:01 hrs the share was quoting at Rs 90.25, up Rs 0.70, or 0.78%. Market capitalisation stands at Rs 1,547.88 crore.
The company touched its 52 week high Rs 94.90 and 52 week low Rs 32.20 on 14 Jan, 2010 and 13 Apr, 2009, respectively. Currently, it is trading -4.9% below its 52-week high and 180.28% above its 52-week low.
Disclosures: None on personal front but working for a brokerage house we must have vested interest in the above recommendations.
