The brokerage has initiated coverage on Graphite India and HEG, assigning a target price of ₹700 to each, assuming them to be structural winners in the sector
ICICI Securities remains constructive on HEG over the long term, supported by the global transition to electric arc furnace-based steelmaking and its entry into the graphite anode market.
Technical charts suggest that HEG, Graphite India, Chennai Petro, Jindal Steel and Deepak Fertilisers can potentially rally up to 18% from here; here are the key levels to track on these 5 stocks.
Any trade negotiations leading to reduction in tariff would act as a positive catalyst for Indian graphite electrodes players, said ICICI Securities in a note.
Graphite India stock hit a four-year high at ₹622.55, surging 8% on the BSE in Wednesday's intra-day trade, surpassing its previous high of ₹614 touched on December 4, 2024.
HEG and Graphite India shares rally up to 11% on Thursday; here's why analysts remain positive on HEG.