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Graphite India gains on inking agreement for investment in General Graphene

03 Sep 2018

Graphite India is currently trading at Rs. 1034.85, up by 22.35 points or 2.21% from its previous closing of Rs. 1012.50 on the BSE.

The scrip opened at Rs. 1041.00 and has touched a high and low of Rs. 1049.90 and Rs. 1031.95 respectively. So far 17168 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1126.40 on 14-Aug-2018 and a 52 week low of Rs. 252.00 on 13-Sep-2017.

Last one week high and low of the scrip stood at Rs. 1,049.90 and Rs. 974.45 respectively. The current market cap of the company is Rs. 19781.78 crore.

The promoters holding in the company stood at 65.22%, while Institutions and Non-Institutions held 14.73% and 20.06% respectively.

Graphite India through its wholly owned subsidiary in Netherlands, Graphite International BV has signed a definitive agreement for investment upto $18.6 million in cash in General Graphene Corporation. This investment would constitute approximately 46% stake in General Graphene and is aligned to the company’s core business segment of Carbon and Graphite.

General Graphene has developed a breakthrough proprietary technology which would allow them to produce large area, low cost graphene sheets industrial volumes for commercial applications. The investment will be made in multiple tranches over 2 to 3 years, based on the achievement of agreed milestones in the process of commercial production of grapheme sheets.

Graphite India is the pioneer in India for manufacture of Graphite Electrodes as well as Carbon and Graphite Speciality products.

Related Graphite India Ltd. Links:

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