HEG is currently trading at Rs. 1033.30, up by 31.05 points or 3.10% from its previous closing of Rs. 1002.25 on the BSE.
The scrip opened at Rs. 1035.00 and has touched a high and low of Rs. 1055.00 and Rs. 1028.95 respectively. So far 4201 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2219.20 on 12-Nov-2021 and a 52 week low of Rs. 891.15 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1055.00 and Rs. 957.00 respectively. The current market cap of the company is Rs. 3868.23 crore.
The promoters holding in the company stood at 55.13%, while Institutions and Non-Institutions held 14.19% and 30.67% respectively.
HEG has received an approval for entering into Manufacturing of Graphite Anodes for lithium ion cells and its allied and ancillary products business through incorporation of a subsidiary Company.
The Board of Directors of the Company in their Meeting held on November 11, 2022 has inter-alia considered/approved the same.
The Subsidiary Company would manufacture graphite anode for Lithium-ion cells.
The plant would be made in two phases, spending Rs 1000 crore in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity.
In Phase 2 the Company plans to double the capacity with another Rs 1000 crore approximately catering to a total of 20- 22 MWH of cell manufacturing capacity.
The company aims to finish both the phases in 5-7 years.
As the Manufacturing of Graphite Anode for Lithium ion cells and its allied product is niche segment, by foray into this segment through the Subsidiary Company, it will help in vertical growth of the company which will in future beneficial for all its stakeholders.
HEG is a leading manufacturer and exporter of graphite electrodes in India and operates world’s largest single-site integrated graphite electrodes plant.