HEG Advanced Materials ends higher after demerger; ICICI Securities sees value-unlocking potential
BUZZ-HEG Advanced Materials ends higher after demerger; ICICI Securities sees value-unlocking potential ** HEG Advanced Materials' shares HEGL.NS settle 5% higher at 273 rupees
** HEG Ltd demerges into two entities - advanced materials, battery energy solutions and green power businesses now housed under HEG Advanced Materials, while graphite electrodes business under HEG Graphite
** Brokerage ICICI Securities expects restructuring to unlock value by allowing the two businesses to pursue independent growth strategies
** Pegs fair value for HEG Advanced Materials at around 250 rupees/shr, and HEG Graphite at 525 rupees/share
** ICICI Securities optimistic on HEG given its planned 20,000-ton-per-annum greenfield battery-grade anode plant, which could offer meaningful high-margin growth
** Expects over 30% margin potential for the battery-grade anode business
** HEG Graphite will list separately in about 2 months
(Reporting by Nishit Navin in Bengaluru)
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