Graphite electrode shares in focus; Graphite India, HEG gain up to 7%

In Q3FY22, Graphite India registered net sales of Rs 880 crore, up by 76 per cent year-on-year (YoY) and 27 per cent QoQ basis. The sales growth was driven by both higher volumes and realizations.

Shares of graphite electrode companies HEG ( up 7 per cent at Rs 1,422) and Graphite India (up 6 per cent at Rs 518.95) moved higher by up to 7 per cent on the BSE in Wednesday’s intra-day trade in an otherwise volatile market as electrode prices have improved quarter-on-quarter (QoQ) in December & are expected to strengthen further.

In comparison, the S&P BSE Sensex was up 0.29 per cent at 58,313 points at 01:04 pm, after hitting an intra-day low of 57,780. In the past two trading days, these stocks have risen between 8 per cent and 10