Graphite India stock hits 10% lower circuit

The stock hit a 14-month low and is trading its lowest level since October 26, 2017, post Q3FY19 numbers.

Feb 11, 2019 08:02 IST India Infoline News Service

Graphite
Shares of Graphite India hit 10% lower circuit and are trading at 52-week low on the BSE post Q3FY19 numbers. The stock hit a 14-month low and is trading its lowest level since October 26, 2017, post Q3FY19 numbers.

However, the company reported strong growth in revenue and earnings for Q3FY19 as higher realizations and volumes continue to drive earnings growth. Its revenue grew by 81% yoy to Rs1,855cr; EBITDA stood at Rs1,083cr, up 99.4% yoy.

The company’s net profit stood at Rs764cr, up 112.8% yoy.

Graphite India Ltd is currently trading at Rs436 down by Rs48 or 9.92% from its previous closing of Rs484 on the BSE.

The scrip opened at Rs484 and has touched a high and low of Rs487.50 and Rs436 respectively.

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