HEG incorporates new arm for manufacturing graphite node; stock soars 9%

The plant would be made in two phases, spending Rs 1,000 crore in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity.

Shares of HEG surged 9% to Rs 1,055 on the BSE in Tuesday’s intra-day trade in an otherwise range-bound market after the company announced incorporation of wholly-owned subsidiary TACC, which would manufacture graphite anode for Lithium-ion cells.

The company said incorporation of subsidiary to produce graphite anode for lithium ion cells and other advanced carbon and anode materials for various energy storage systems and materials manufacturing for green energy technologies mainly focusing on carbon and graphite based materials as anode to contribute to the sustainability and technological advancement of the global energy ecosystem.

HEG said the plant would