ICICI Securities remains constructive on HEG over the long term, supported by the global transition to EAF-based steelmaking and its entry into the graphite anode market with end application in EV.
ICICI Securities remains constructive on HEG over the long term, supported by the global transition to electric arc furnace-based steelmaking and its entry into the graphite anode market.
Any trade negotiations leading to reduction in tariff would act as a positive catalyst for Indian graphite electrodes players, said ICICI Securities in a note.
Graphite India stock hit a four-year high at ₹622.55, surging 8% on the BSE in Wednesday's intra-day trade, surpassing its previous high of ₹614 touched on December 4, 2024.
Singularity AMC, an equity firm backed by ace investor Madhusudan Kela and led by Yash Kela, has proposed to invest up to Rs 500 crore in Bhilwara Energy, an associate company of HEG
Graftech has a competitive portfolio of low cost, ultra-high power graphite electrode manufacturing facilities, with some of the highest capacity facilities in the world.
HEG said the company had undertaken an expansion project in past to increase the existing capacity from 80,000 tons to 100,000 tons and the same is going on in full swing
Thus far in the calendar year 2019, HEG (down 68 per cent) and Graphite India (down 63 per cent) have nosedived by more than 60 per cent each, as compared to 7 per cent rise in the S&P BSE Sensex.
HEG has moved higher by 9.5% to Rs 4,239, extending its previous 20% surge, while Graphite India has locked in upper circuit for the second day in a row, up 5% at Rs 871 on the BSE.
