As per media sources, China has announced that it will implement stricter end-user and end-use reviews for graphite exports to the US.
Graftech has a competitive portfolio of low cost, ultra-high power graphite electrode manufacturing facilities, with some of the highest capacity facilities in the world.
With structural tailwinds, analysts at ICICI Securities expect demand and pricing recovery in graphite electrode space from H2FY25 onwards
HEG, Graphite India share price today: Resonac Graphite has announced a minimum 20 per cent of global price increase on all new orders
On the domestic front, investor attention is focused on forthcoming manufacturing data and the Q4 results of major players such as ITC, IndiGo, and Fortis Healthcare
The plant would be made in two phases, spending Rs 1,000 crore in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity.
Ravi Jhunjhunwala, chairman and managing director (CMD) of HEG Mandideep, said that Madhya Pradesh has a great atmosphere to work in the field of industrial investment
HEG said the company had undertaken an expansion project in past to increase the existing capacity from 80,000 tons to 100,000 tons and the same is going on in full swing
HEG is scheduled to announce its March quarter results on Thursday, May 27, 2021
HEG stock after trading with a strong uptrend recently underwent some consolidation
The pick-up in steel production globally is expected to drive demand for electrodes in the near term
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.