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Graphite India: Buy for 17% upside
KR Choksey29 Jul 2010Valuation & Views: With the rebound in steel industry and the fundamental advantages that the established graphite manufacturers enjoy, we believe that Graphite India is on a strong ground. Graphite India is attractively available at the current market price of Rs 100 at a P/E of 7.3 times, we value the company at a P/E of 8.5 times its FY10 earnings with a target price of Rs 117, thus providing a upside potential of 17% from the current levels of Rs 100.
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