Buy Graphite India, target price Rs 690: ICICI Securities

ICICI Securities has buy call on Graphite India with a target price of Rs 690. The current market price of Graphite India Ltd. is Rs 635.15. Time period given by analyst is Intra Day when Graphite India Ltd. price can reach defined target.

Graphite India Ltd., incorporated in the year 1974, is a Mid Cap company (having a market cap of Rs 12420.03 Crore) operating in Industrial Consumables sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 621.00 Crore, down -3.12 % from last quarter Total Income of Rs 641.00 Crore and down -.64 % from last year same quarter Total Income of Rs 625.00 Crore. Company reported net profit after tax of Rs 67.00 Crore in latest quarter.


Investment Rationale
Shallow retracement and a higher base above the 100 days EMA signals an elevated buying demand