Graphite India hits new high; HEG nears record high
Shares of graphite electrodes (GE) manufacturers continued their upward movement with Graphite India hitting a new high of Rs 925 per share, up 5%, surpassing their previous high of Rs 908 per share recorded on January 4, 2018. Shares of HEG too were up 5% at Rs 3,650 per share, trading close to their record high of Rs 3,695 per share touched on May 17, 2018 on the BSE in intra-day trade. In past one week, HEG and Graphite India have outperformed the market by gaining 12% and 10%, respectively. On comparison, the S&P BSE Sensex was rose 0.21% during the same period. HEG believes that this current upsurge in the global graphite electrode demand which commenced in 2017 is expected to sustain its momentum over the foreseeable future as the demand-supply gap in the graphite electrode space is only expected to widen over the coming years.
ARTICLE SOURCE: BUSINESS STANDARD