Graphite India, HEG extend rally in a weak market on strong outlook

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.

Shares of graphite electrode (GE) manufacturing companies such as Graphite India and HEG were trading higher by up to 9% in an otherwise weak market on the expectation of strong earnings growth.

Graphite India was locked in upper circuit for the second day in a row, up 5% at Rs 871 on the BSE.  A combined 914,725 equity shares changed hands and there were pending buy orders for 313,348 shares on the NSE and BSE.

HEG also moved higher by 9.5% to Rs 4,239, extending its previous 20% surge on the BSE. The trading volumes on the counter