Graphite electrode makers extend rally; HEG surges 32% in two days

The pick-up in steel production globally is expected to drive demand for electrodes in the near term

Shares of graphite electrode makers -- Graphite India and HEG -- continued their northward movement in Wednesday's session on strong growth outlook as the pick-up in steel production globally is expected to drive demand for electrodes in near term.

Among individual stocks, HEG hit a fresh 52-week high of Rs 2,023, up 11 per cent on the BSE. The stock has surged 32 per cent in the past two trading days. Shares of Graphite India too hit a fresh 52-week high of Rs 620, up 6 per cent, having gained 15 per cent in the last two sessions.

In the past three