Graphite India jumps 5% on resuming operations at plants in West Bengal, Maharashtra

NEW DELHI: Shares of Graphite India jumped 5 per cent in Tuesday's trade after the company resumed partial operations at various plants.

The company said it has started partial operations at its graphite electrode plant in Durgapur, West Bengal. It also began operating impervious graphite equipment plant in Ambad and GRP plant in Gonde -- both in Nashik, Maharashtra.

The stock rose 5 per cent to hit an upper circuit of Rs 212.10 on BSE. At this price, the stock trades at 9.11 times its trailing 12-month earnings per share and 0.94 times its price to book value.


The stock hit a 52-week high of Rs 458.70 and low of Rs 103.

The company said that it is working with the permitted minimum manpower.

"The local management of Graphite Cova GmbH German group of companies, (our wholly owned subsidiaries in Germany) has also decided to operate the speciality and coating operations in the plant," the company said.

The shares of the company closed 2.03 per cent higher at Rs 206.10 on BSE.