HEG, Graphite India extend gain after strong Q4 results

HEG was up 4% to Rs 3,392, surging 16% in past seven trading days, while Graphite India trading 2% higher at Rs 765, extending its past two days 3% gain in otherwise weak market

Shares of graphite electrode manufacturers HEG and Graphite India were trading higher for the fourth straight days after these companies reported a robust net profit growth in March quarter (Q4FY18).

HEG was up 4% to Rs 3,392, surging 16% in past seven trading days, after the company reported net profit of Rs 6.34 billion in March quarter (Q4FY18), on back of strong operational income. It had posted net loss of Rs 34 million in year ago quarter.

The company’s operational revenues grew by nearly five-fold at Rs 12.92 billion in Q4FY18 as against Rs 2.67 billion in Q4FY17.