Quick rise in stock:Graphite India Ltd

The stocks in Graphite India Ltd surged on Wednesday afternoon session and were trading up over 8 percent in trade. The sudden rise in the stock prices of graphite India Ltd can be factored to global cues. To elaborate, one of the largest graphite electrode manufacturers, Tokai Carbon who is the developer and stockist of graphite material for use in nuclear power, raised contract prices of its products for H1CY19. This development brought investor interest which led to a sharp surge in the price of Graphite stocks

At 3.10 pm on Wednesday, the stock of Graphite India was quoting Rs. 752.45, up by Rs. 56.65 or 8.14% on the NSE. The stock opened at Rs. 695per share and hit an intraday high of Rs. 799.

Graphite India Ltd is engaged in the producing graphite electrodes, graphite, steel, glass and GRP pipes and tanks and generation of hydel power across major verticals.