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Buy Graphite India; target of Rs 440: ICICI Direct

ICICI Direct is bullish on Graphite India recommended buy rating on the stock with a target price of Rs 440 in its research report dated November 14, 2022.

November 24, 2022 / 03:42 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 is 98000 tonnes per annum. 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


Hence, we upgrade the stock from REDUCE to BUY. We value GIL at Rs 440, 6.5x FY24E EV/EBITDA.


For all recommendations report, click here

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Graphite India - 15 -11-2022 - icici
Broker Research
first published: Nov 24, 2022 03:42 pm