Graphite India, HEG rise for second straight day, up 5%

Shares of graphite electrode (GE) manufactures such as Graphite India and HEG were trading higher for the second straight day on expectations of a strong demand which is likely to push up GE prices for at least 2-3 years.

Graphite India is locked in upper circuit for the second straight day, up 5% at Rs 709 on the BSE. HEG too up 5% at Rs 2,813, extending its previous day’s 4.5% gain.

These stocks had corrected 11% to 22% from their respective record highs reported on earlier current calendar year. HEG hit an all-time high of Rs 3,147