Turnaround in global steel production four successive quarters of de-growth seen as a positive for the two graphite electrode makers
In the past one year, shares of the company have slipped 51 per cent against nearly 12 per cent rise in the Nifty50 index.
During the quarter under review, the stock of the company dipped 31 per cent, as against a 1.3 per cent decline in the Sensex.
The stock tanked 18% to Rs 2,244, falling 31% in past three trading days, quoting close to its 52-week low price of Rs 2,214 touched February 2, 2018 in intra-day trade.
The company said it will fund the expansion through internal accruals and debt, if required
The stock hit a new high of Rs 4,950, rallied 56% in past six trading days, after BofAML initiated coverage of the stock with a 'Buy' rating and target price of Rs 6,700 per share.
The stock is locked in upper circuit of 20% at Rs 3,871 on the BSE after Bank of America Merrill Lynch initiated coverage of the stock with a 'Buy' rating price objective of Rs 6,700.
HEG hit a new high of Rs 4,660, up 5% on the BSE, after the company reported a stellar set of numbers by reporting a net profit of Rs 7.7 billion in June quarter.
The stock hit a record high of Rs 4,250, up 3.3% on the BSE in intra-day trade on Tuesday, ahead of June quarter (Q1FY19) results on Wednesday, August 1, 2018.
The stock rallied 9% to Rs 3,198 after the company reported net profit of Rs 6.34 billion in March quarter against loss of Rs 34 million in year ago quarter.
The stock hit a new high of Rs 3,148, up 4%, extending its past four days 18% rally on the BSE in otherwise weak market on Friday.
The stock surged 15% to Rs 3,045, extending its Wednesday's 20% rally ahead of board meeting today to consider either the interim dividend or proposal for buy back of equity shares.
The stock surged 17% to Rs 2,600 on BSE in early morning trade ahead of board meeting tomorrow to consider either the interim dividend or proposal for buy back of equity shares of the Company.
HEG was up nearly 5% to Rs 1,957 on the BSE in intra-day trade.
The stock locked in upper circuit of 5% at Rs 1,841, also its new high on the BSE, after the company reported net profit of Rs 114 crore in Q2 against loss of Rs 14 crore in year ago quarter