In FY21 so far, the stock has risen 137 percent to Rs 301.05 as on January 25, 2021, from Rs 127.10 as on March 31, 2020. Each quarter, MFs increased their holdings - June quarter: 0.75 percent September quarter: 1.344% and December quarter 3.3%.Live bseVolume Todays L/H - nse Live Volume TodaysGraphite India shares gained 2 percent on June 30, after the company became profitable in Q4 FY21.The quarter ended March 2021 saw a net profit in excess of Rs 64 crore, compared to a loss in excess of Rs 7 crore for the same period last year.Profits saw a sharp turnaround due to a drop in material costs, which resulted in positive EBITDA margins for the current quarter.However, net sales for the company fell 6 percent YoY to Rs 555.5 crore.The company reported consolidated EBITDA of Rs 78 Crore (earnings after interest, taxes and amortization) at 13.8 percent.Live blog: Catch all the action in the marketAt the time this copy was written, the stock was trading at Rs 644.65, an increase of Rs 13.95 or 2.21 percent. It reached an intraday high at Rs 650.00 and a low at Rs 638.65.The management is optimistic about the future, citing the steady recovery of demand for electrodes as well as stabilization in prices. The management stated that Graphite India was well-positioned to meet the increasing demand for electrodes, as well as maintain strong liquidity and a solid balance sheet.Research and broking company ICICI Direct maintained a buy call for the stock, with a target price of Rs 800 per share."Electrode prices began to recover from their lows during Q4 FY21. Moreover, electrode demand has increased due to the increase in steel production all over the globe. Prices have also stabilized. This is good news for Graphite India which is the largest Indian manufacturer of graphite electrode," it stated.The brokerage added that they value the stock at 6.5x FY23E EBITDA and arrived at Rs 800 target price and maintained their buy recommendation for the stock.ICICI Direct stated that there has been an increase in steel and electrode demand due to the steady rise in demand from the steel consuming sector in H2 FY21. It stated that China's lower exports may be a good sign for other EAF countries, which could have a positive impact on graphite demand.Moneycontrol.com's investment experts may share their opinions and tips, but they are not the views of the site or its management. Moneycontrol.com recommends that users consult certified experts before making any investment decisions.
