Research house Jefferies maintained buy on Graphite India with target of Rs 1415. It sees potential upside of 48 percent.
Shares of Graphite India slipped 5 percent intraday Friday as there is a media report stating about shutdown of its Bengaluru plant on pollution concerns.
As regards the Bengaluru plant, the company got a favourable ruling In June, 2013 from the Karnataka State Appellate Authority. The complainants approached National Green Tribunal (NGT) and the matter is currently pending there. Application to the pollution board for consent has been made well in time, company clarified.
Research house Jefferies maintained buy on Graphite India with target of Rs 1415. It sees potential upside of 48 percent.
According to firm the closure of Bengaluru facility do not impact volumes, however power cost to increase if company would start graphitisation at Nasik facility.
It feels that impact on EBITDA would be less than 0.5 percent.
At 15:00 hrs Graphite India was quoting at Rs 929.95, down Rs 23.45, or 2.46 percent on the BSE.
Posted by Rakesh Patil