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Buy Graphite India; target of Rs 650: ICICI Direct

ICICI Direct is bullish on Graphite India has recommended buy rating on the stock with a target price of Rs 650 in its research report dated February 16, 2021.

February 21, 2022 / 06:54 PM IST
 
 
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ICICI Direct's research report on Graphite India


Graphite India (GIL) is the largest Indian producer of graphite electrodes by total capacity. Its manufacturing capacity of 98000 tonnes per annum is spread over three plants at Durgapur & Nashik in India & Nuremberg in Germany. While GIL manufactures a full range of graphite electrodes, it stays focused on the higher margin, large diameter, ultra-high power (UHP) electrodes GIL has over 40 years of technical expertise in the industry


Outlook


We maintain our BUY rating on the stock We value GIL at Rs 650, 6.5x FY23E EV/EBITDA


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At 14:12 hrs Graphite India was quoting at Rs 481.50, down Rs 8.55, or 1.74 percent.


It has touched an intraday high of Rs 519.80 and an intraday low of Rs 475.55.


It was trading with volumes of 55,038 shares, compared to its thirty day average of 114,396 shares, a decrease of -51.89 percent.


In the previous trading session, the share closed down 1.43 percent or Rs 7.10 at Rs 490.05.


The share touched its 52-week high Rs 815.35 and 52-week low Rs 396.00 on 25 May, 2021 and 27 December, 2021, respectively.


Currently, it is trading 40.95 percent below its 52-week high and 21.59 percent above its 52-week low.


Market capitalisation stands at Rs 9,407.33 crore.


For all recommendations report, click here


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first published: Feb 21, 2022 06:54 pm
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