Buy Graphite India, target price Rs 695: ICICI Securities

ICICI Securities has buy call on Graphite India with a target price of Rs 695.

Graphite India Ltd., incorporated in the year 1974, is a Mid Cap company (having a market cap of Rs 12281.31 Crore) operating in Industrial Consumables sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 641.00 Crore, up 19.81 % from last quarter Total Income of Rs 535.00 Crore and down -6.56 % from last year same quarter Total Income of Rs 686.00 Crore. Company reported net profit after tax of Rs 26.00 Crore in latest quarter.


Investment Rationale
A shallow retracement and a higher base at the 61.8% retracement of the previous up move (482-740)