Three-fold jump in trading volume: Shares of this industrial products company surged 10 per cent!
Shares of this company are trading close to their 52-week high of Rs 1,378.
Today, shares of HEG Ltd rallied up to 10 per cent to Rs 1,309 on the BSE intra-day trade amid heavy volumes in an otherwise subdued market. HEG was trading close to its 52-week high of Rs 1,378, touched on August 19, 2022.
The shares of this company are currently trading at Rs 1,302.95, up by 114.90 points or 9.67 per cent, from the previous day's closing of Rs1,188.05. The share price touched a high of Rs1,315 and a low of Rs 1,191.
The Indian steel sector is likely to maintain its growth pace, supported by government infrastructure expenditure and exports, both of which may benefit electrode demand.
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Meanwhile, during the fiscal year 2022-23, the company's consolidated capacity utilization was 55 per cent, down from 81 per cent in FY22. The year's performance was hampered by a drop in volume as customers faced increased energy prices and economic uncertainty as a result of the Russia-Ukraine war.
HEG is a leading manufacturer and exporter of graphite electrodes in India and operates the world's largest single-site integrated graphite electrodes plant. HEG was incorporated in 1972 and is a public limited company. HEG, a premier company of the LNJ Bhilwara group, is India's leading graphite electrode manufacturer. It has one of the largest integrated Graphite Electrode plants in the world, processing sophisticated UHP (Ultra High Power) Electrodes.