Shares of graphite electrode (GE) manufacturers, Graphite India and HEG, were in focus, surging by up to 10 per cent, on the BSE on Wednesday on expectation of the pick-up in steel production globally is expected to drive demand for GEs.
Shares of Graphite India hit a 52-week high of Rs 517.40, rallying 10 per cent on the BSE in intra-day trade on the back of heavy volumes. HEG's stock soared 9 per cent to Rs 1,635, trading close to its 52-week high of Rs 1,645.80, touched on March 3. In comparison, the S&P BSE Sensex was up 0.54 per cent at 51,301 points, at 02:28 pm.
In the past one month, HEG's stock (up 34 per cent) and Graphite India (up 16 per cent) have outperformed the Sensex, which gained a marginal 0.02 per cent during the period.