Shares of electrode manufacturers Graphite India Ltd and HEG Ltd surged over 10% in an otherwise subdued market today. The rally was led by high volumes of shares traded on BSE. The demand for graphite electrodes is expected to remain strong despite a slowdown in the global economy and rising interest rates to contain inflation, said Graphite India chairman KK Bangur post Q4 earnings. The bright outlook for the graphite electrode industry has pushed the two stocks higher in the last three sessions. While HEG stock has gained 14.25%, shares of Graphite India have risen 12.79% in the three sessions.