HEG shares rise for third straight day to hit 52-week high after ₹172 crore block deal; check details

The stock opened higher and hit a year high of ₹619.5 apiece on the NSE after a three-day rally fuelled by China’s decision to restrict exports of graphite-related products to the United States.

The rally in the stock was also seen amid a block deal worth ₹172 crore. According to reports, around 28.8 lakh shares of HEG, representing 6% of equity stake, changed hands on bourses in a block deal.

The shares were traded at an average price of ₹600 per share, according to reports. The floor price was higher by 3% over Wednesday's close.

More than 2.23 crore shares of the company changed hands on the NSE, and their traded value stood at ₹1,347.86 crore. The stock later pared some of the gains to trade 1.81% higher at ₹592.15 per share on NSE at 11:30 am.

HEG Ltd shares have rallied around 30% in the three-day winning run to hit a year’s high. The stock spurted around 16% on Wednesday and by 4.5% on Tuesday.

Meanwhile, shares of its competitor Graphite India Ltd rallied around 16% in two days since December 3. The stock fell by over 5% on Thursday.

HEG Ltd shares have seen a rally following the Chinese government’s decision to impose a ban on the export of several materials that are essential for chip-making.

The Chinese commerce ministry on Tuesday announced that germanium, gallium, antimony, and superhard materials will no longer be allowed to export to the US as a general principle. The government has cited military usage concerns, and the ban comes in response to US President-elect Donald Trump’s threat to impose tariffs on Chinese goods.

China will also impose a strict end-use review on dual-use products related to graphite.

HEG Limited is a leading manufacturer of graphite products, which accounts for 80% of its revenue. HEG has the largest integrated graphite plant in the world, located at Mandideep near Bhopal, Madhya Pradesh. The plant has an annual capacity of 100,000 MT of UHP-grade electrodes.