Buy Graphite India, target price Rs 750: Yes Securities

Yes Securities has buy call on Graphite India with a target price of Rs 750. The current market price of Graphite India Ltd. is Rs 694.75. 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 13578.60 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
The stock has resumed uptrend after breaking out of a narrow consolidation phase and trendline resistance on good volumes. Technical indicator RSI is turning upwards from the 40-level, which suggests extended upside in the stock.