India's graphite makers jump on China's export ban to US

HEG Advanced Materials

03/12/2024 09:30

** Shares of HEG  HEGL.NS  and Graphite India  GRPH.NS  jump 15%
and 9%, respectively
    ** Stock top gainers in Nifty 500 index  .NIFTY500  which is
up by about 0.8%; HEG set for highest one-day pct gain since
June 2023
  
** China will ban exports of "dual-use items" related to
gallium, germanium, antimony and superhard materials to the U.S.
with immediate effect,  its commerce ministry said
    ** The ministry's directive also requires a stricter review
of end-usage for graphite dual-use items shipped to the United
States
    ** HEG and Graphite India are country's top producers of the
material
    ** HEG shares up 31%, while GRPH up 3% YTD

(Reporting by Sethuraman NR in Bengaluru)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))