Graphite India, HEG hit upper circuit of 5%

Thus far in the calendar year 2018, HEG (up 42%) and Graphite India (up 18%) have outperformed the S&P BSE Sensex, which 3% so far.

Shares of graphite electrodes manufacturers Graphite India (Rs 840) and HEG (Rs 3,311) are locked in the upper circuit of 5% on the BSE after a foreign brokerage firm initiated an outperform rating on both these stocks.

Macquarie initiated coverage on Graphite India with an outperform call, target at Rs 1,260 per share, while the brokerage firm initiated with an outperform call on HEG with target at Rs 4,810 per share, a media report suggested.

HEG touched an all-time high of Rs 3,695 on May 17, 2018, while Graphite India hit a record high of Rs 908 on