Graphite charges up on higher contract price

DALAL STREET SPIKES

Graphite India hit a 52-week high of Rs 139.25 yesterday before closing at Rs 136.40, up by 14.33 per cent. More than 68447 shares were traded on the BSE.

The counter has moved up on reports that new contracts were being finalised at a higher price than the current deliveries.

The company also announced that exercises are constantly on to find ways of achieving maximum capacity/ productivity through de-bottlenecking of the intermediate stages of the manufacturing process.

It added that it has its own captive generation power plants in Nashik and Bangalore and that the company is considering investments in new captive power plants.