Latest news with #HEG
Business Upturn
02-07-2025
- Business
- Business Upturn
HEG shares slip nearly 2% today after GST department issues Rs 282 crore show cause notice
By Aditya Bhagchandani Published on July 2, 2025, 09:25 IST Shares of HEG Limited declined by 1.43% or Rs 7.35 to trade at Rs 506 on the NSE during early Tuesday trade after the company disclosed a fresh tax development. The stock had closed at Rs 513.35 in the previous session. HEG informed the stock exchanges that it has received a show cause notice from the Office of the Deputy Commissioner (SGST), Mandideep Circle, Bhopal Division-2, related to the financial year 2018-19. The notice, dated June 30, 2025, seeks recovery of Rs 282.34 crore towards Integrated GST (IGST) refunds along with applicable penalties. The tax demand is based on alleged non-compliance with Rule 96(10) of the Central Goods and Services Tax Rules, 2017. HEG, however, stated that it will file a formal reply contesting the demand, claiming its IGST refunds for FY19 are in order. The company further noted that it faced a similar notice for FY18, which was later dropped by the GST department after review. HEG expressed confidence that the current matter would also be resolved in its favour. HEG's stock movement reflects investor caution following the disclosure. The final financial impact, if any, will depend on the outcome of the ongoing proceedings. 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. Ahmedabad Plane Crash 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.
Business Upturn
01-07-2025
- Business
- Business Upturn
HEG receives GST show cause notice for Rs 282.34 crore IGST refund dispute for FY19
By Aditya Bhagchandani Published on July 1, 2025, 18:46 IST HEG Limited has informed exchanges that it has received a show cause notice from the Office of the Deputy Commissioner (SGST), Mandideep Circle, Bhopal Division-2. The notice, received on June 30, 2025, pertains to the tax period April 2018 to March 2019 and proposes recovery of Rs 282.34 crore towards Integrated GST (IGST) refunds along with penalty. The alleged violation is under Rule 96(10) of the Central Goods and Services Tax Rules, 2017. The company has stated that it will file a formal reply to the notice and believes its IGST refunds for FY19 are in order. HEG further highlighted that a similar notice for FY18 was previously issued and later dropped by the GST department after reviewing the available records. The company added that the financial impact, if any, will depend on the final tax liability determined, along with any applicable interest or penalty. HEG remains confident that this demand will also be dropped in due course. 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 Ahmedabad Plane Crash 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.
Business Upturn
27-06-2025
- Business
- Business Upturn
HEG shares surge over 4% today as Japan imposes 5-year anti-dumping duty on Chinese graphite electrodes
By Aditya Bhagchandani Published on June 27, 2025, 11:42 IST 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. Ahmedabad Plane Crash 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.
Business Standard
20-05-2025
- Business
- Business Standard
HEG reports consolidated net loss of Rs 73.67 crore in the March 2025 quarter
Sales decline 0.85% to Rs 542.25 crore Net loss of HEG reported to Rs 73.67 crore in the quarter ended March 2025 as against net profit of Rs 32.91 crore during the previous quarter ended March 2024. Sales declined 0.85% to Rs 542.25 crore in the quarter ended March 2025 as against Rs 546.90 crore during the previous quarter ended March 2024. For the full year,net profit declined 63.08% to Rs 115.06 crore in the year ended March 2025 as against Rs 311.67 crore during the previous year ended March 2024. Sales declined 9.82% to Rs 2159.69 crore in the year ended March 2025 as against Rs 2394.90 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 542.25546.90 -1 2159.692394.90 -10 OPM % -12.187.52 - 11.8115.97 - PBDT -30.0196.81 PL 360.96570.02 -37 PBT -84.6046.37 PL 160.37395.37 -59 NP -73.6732.91 PL 115.06311.67 -63
Economic Times
20-05-2025
- Business
- Economic Times
How will Resonac's plant closures impact the global graphite market?
Graphite electrodes are mainly used in steelmaking and by chemical firms. China is the world's leading producer of graphite, used for military applications and the making of electric vehicle batteries. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Graphite electrode manufacturers HEG and Graphite India surged on Monday in weak trading following news reports that Japan's Resonac Holdings will shut down its China and Malaysia plants. Resonac is a major producer of graphite electrodes , used for electric arc furnace (EAF) of Graphite India jumped 15.1% to close at ₹560. HEG shares advanced 7.7% to end at ₹528.3."Resonac's Chinese and Malaysian plants account for about one-third of the company's total graphite production," said Manish Chowdhury, head of research at Stoxbox. "While the global supply of graphite will go down post this move, demand remains intact, in tandem with demand for metals and other industrial usages, which can now be fulfilled by Indian companies."Chowdhury expects prices of graphite electrodes to firm up due to a demand-supply electrodes are mainly used in steelmaking and by chemical firms. China is the world's leading producer of graphite, used for military applications and the making of electric vehicle HEG derives almost 70% of its revenues from exports, Graphite India earns around 35% of its revenues from of Graphite India are down 1.4% this year, whereas HEG shares have remained flat in 2025 so far. The benchmark NIfty 500 is up 1.7% in this brokerage B&K Securities assigned a 'Buy' rating on Graphite India, with a price target of ₹718, citing an upward trend in graphite electrode (GE) implies 28.2% upside from Monday's close.
