Indian graphite electrode makers jump after Jefferies target price hikes

HEG Advanced Materials

22/02/2024 06:09

** Shares of electrode makers Graphite India Ltd  GRPH.NS 
up 8.6% and HEG Ltd  HEGL.NS  up 6.1%
    ** HEGL snaps 3-day losing run, GRPH posts biggest daily
rise so far this year
    ** Jefferies, the only brokerage covering HEGL raises PT to
2,300 rupees from 2,110 rupees, while upping GRPH's PT to 650
rupees and maintaining "buy" for both stocks
    ** Brokerage expects the companies to benefit from demand in
newer verticals, including battery technologies for EVs
    ** GRPH turns YTD positive, up ~2%, while HEGL trims YTD
losses to under 10%


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))