Graphite electrode makers in focus; Graphite India, HEG rally up to 10%

In the past one month, the stocks of HEG (up 34 per cent) and Graphite India (up 16 per cent) have outperformed the Sensex, which gained a marginal 0.02 per cent during the period

Shares of graphite electrode (GE) manufacturers, Graphite India and HEG, were in focus, surging by up to 10 per cent, on the BSE on Wednesday on expectation of the pick-up in steel production globally is expected to drive demand for GEs.

Shares of Graphite India hit a 52-week high of Rs 517.40, rallying 10 per cent on the BSE in intra-day trade on the back of heavy volumes. HEG's stock soared 9 per cent to Rs 1,635, trading close to its 52-week high of Rs 1,645.80, touched on March 3. In comparison, the S&P BSE Sensex was up 0.54