HEG shares surge over 4% today as Japan imposes 5-year anti-dumping duty on Chinese graphite electrodes
Shares of HEG Ltd surged over 4% during Friday's session after reports that Japan has imposed a five-year anti-dumping duty on graphite electrodes imported from China. The stock rose 4.28% to trade at Rs 516.55 as of 11:40 AM, up Rs 21.20 from the previous close of Rs 495.35.
Japan's decision follows a government investigation which concluded that Chinese graphite electrodes were being sold at unfairly low prices, hurting Japanese domestic manufacturers like SEC Carbon, Tokai Carbon, and Nippon Carbon. The new anti-dumping measure is expected to provide a competitive edge to Indian graphite electrode makers like HEG, especially in the HP-grade segment, by limiting Chinese supply in Japan and possibly shifting demand to alternative suppliers.
This development comes after recent curbs by China on graphite exports to the US and other markets, driving further interest in Indian producers.
In Friday's trade, HEG shares touched an intraday high of Rs 508.90 and a low of Rs 496.00. The company's market capitalization stands at Rs 9,795 crore, with an average daily trading volume of 1.58 million shares. The stock currently trades at a P/E ratio of 85.23.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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