Best performing stock of 2017 can still make you richer by around 58%; should you buy?
The graphite electrode maker reported a net profit of Rs 634.01 crore for the March quarter of financial year 2017-18. The profit comes against a net loss of Rs 3.42 crore in the same quarter of FY17. Revenue from operations climbed 383.71 per cent year-on-year to Rs 1,292.45 crore during the quarter under review. The figure came in at Rs 267.19 crore in the corresponding quarter of the previous year. Global brokerage Jefferies maintained a buy rating on the stock with a target price of Rs Rs 3,622, an upside of 23.31 per cent.
This company has just turned profitable after posting a loss for the last few quarters. Reacting to its March quarter earnings, the stock of the company rallied over 9 per cent in Wednesday's trade. Image source: IANS