Bulls Eye on Graphite India and HEG Ltd.

  • Stock Market Analysis
  • Editors Pick

Graphite India Ltd. (NS: GRPH )

Graphite India last traded price increased by 7.0% to Rs 389.9. At the end of September 2022, the company's owners held 65.34% of Graphite India. The stock's high and low points for the previous 52 weeks are 587 and 348, respectively. 249 rupees are the book value and 19.4 is the stock P/E ratio. The company is almost entirely debt-free. 
 
The stock is a possibility for long-term investors. India is one of the largest producers of graphite electrodes in the world and the largest manufacturer in the nation. Since last April 2021, the stock has been hammered down from 750 levels to 350 levels. On the plus side, on January 2022, we noticed a very little comeback from 400 levels to 550 levels in a remarkably short amount of time. A recent low of 348 rupees was reached as a result of heavy selling at 550 rupee levels on one side once more.
 
The second stage of the retracement corresponds to the range between 335 and 340 rupees, which is clearly indicated on the charts as the stock's support. The stock is consolidating at 340 and is being strongly supported. The stock was up about 7% at 390 levels during today's trading session, breaking through the 380-level resistance with strong volumes. As I had stated plainly in a previous article, I believe the stock will have significant upside movement over the next several days.

Graphite



HEG Ltd. (NS: HEGL )
 
The price of HEG shares has declined by 3.2% over the past 30 days and by 50.3% in the past year. The leading manufacturer and exporter of graphite electrodes worldwide are HEG Ltd. In Mandideep, Madhya Pradesh, HEG has a factory for the production of graphite electrodes with a capacity of 76.5 MW (two thermal power plants and one hydropower plant).
 
Hindustan Electro Graphites (HEG), which has invested Rs 1,200 crore in its current facility at Mandideep near Bhopal, claims it will outperform all other graphite-producing businesses globally. A high of 2317 and a low of 891 can be found in the stock's 52-week range. Market capitalization is 4065 crores, book value is 1014, and the price-to-earnings ratio is 7.61.
 
The stock has fantastic support at levels around 960. Between 1100 and 1040, the stock is consolidating with low volume. It increased by approximately 6% and settled at 1054 rupees during today's trading session. In the upcoming trading session, the stock is approaching its resistance level, and if it breaks through it, there could be a significant upward rise toward the first retracement levels.



Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • Baseer Ahmed @Baseer Ahmed
    What reasons will push up the share price ? Demand for graphite , or allied industries (steel , capex , electronics, etc ) bullishness or what ? Drop from 750 to 350 is almost at half price ,why the drastic drop .? Fancily played by the BIgBoys by pumping and dumping ? When climb back to 750 ?
    Like 5
  • Pankaj Vashistha @Pankaj Vashistha
    At this Moment, One Should Look to Buy Zomato at Rs 64, As it willl rise from here like Rocket, if my raeding of charts are right , lets see
    Like 1
    • xtemp abc @xtemp abc
      Promoters’ holding is zero in zomato. You seemed to be trapped in zomato. It is recommended for everyone to do some study before investing.
      Like 2
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

      Error: File type not supported

      Drop an image here or

      100
  • Pankaj Vashistha @Pankaj Vashistha
    (1) Graphite India has shown hidden bearish Divergence in Daily Chart. It will Come down to 360 before resuming it upward Journey.  ......(2) Thereafter after Crossing 460 on closing basis, it will go to 567 as it has made double bottom pattern in weekly charts. Best of Luck For all investors
    Like 7
    • xtemp abc @xtemp abc
      In electrical devices such as electrodes, batteries, and solar panels, graphite's high conductivity makes it useful. Graphite is fundamentally strong from future prospects.
      Like 2
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

      Error: File type not supported

      Drop an image here or

      100

Related Articles