Graphite electrode makers under pressure; Graphite India, HEG fall upto 9%

HEG plunged 9 per cent to Rs 2,986, hitting at its lowest level since June 6, 2018, while Graphite India slipped 7% to Rs 626, hitting a nine-month low on the BSE in intra-day trade.

Shares of graphite electrode (GE) manufacturers Graphite India and HEG were trading under pressure, falling by up to 9 per cent on the BSE on concerns of margin pressure due to the rising cost of raw material.

HEG has plunged 9 per cent to Rs 2,986, hitting its lowest level since June 6, 2018, while Graphite India slipped 7 per cent to Rs 626, hitting a nine-month low on the BSE in intra-day trade.

HEG plunged 40 per cent from its all-time high level of Rs 4,950 hit on October 16, 2018. Graphite India was trading at its