 "Graphite")
Shares of graphite electrode manufacturer HEG are locked in upper circuit of 20% at Rs 3,871 per share on the BSE after Bank of America Merrill Lynch (BofAML) initiated coverage of the stock with a 'Buy' rating.
The brokerage firm set price objective of Rs 6,700 - an upside potential of 108% against its Tuesday’s closing price of Rs 3,226, plus an 8.5% forecast dividend yield.
“HEG has seen a significant rise in profitability over the last 12 months as graphite electrode (GE) prices have risen fivefold. Chinese limits on steel production and efforts to cut pollution are lifting
The brokerage firm set price objective of Rs 6,700 - an upside potential of 108% against its Tuesday’s closing price of Rs 3,226, plus an 8.5% forecast dividend yield.
“HEG has seen a significant rise in profitability over the last 12 months as graphite electrode (GE) prices have risen fivefold. Chinese limits on steel production and efforts to cut pollution are lifting
