ICICI Direct recommended hold rating on Graphite India with a target price of Rs 100 in its research report dated February 16, 2017.
ICICI Direct's research report on Graphite India
Hence, we have upward revised the consolidated capacity utilisation level to 72% for FY17E (from 70% earlier), maintained consolidated capacity utilisation of 75% for FY18E and introduced capacity utilisation of 78% for FY19E. We value the company at 7.0x FY19E EV/EBITDA thereby arriving at a target price of Rs 100, with a HOLD recommendation on the stock.
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