Upcoming Webinar:'COLLECTIVE FORCE: India Inc. unites to tackle the second wave of COVID-19' on June 23, 11 am. Register Now!

Buy HEG; target of Rs 5000: ICICI Direct

ICICI Direct is bullish on HEG has recommended buy rating on the stock with a target price of Rs 5000 in its research report dated August 07, 2018.

September 18, 2018 / 01:45 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on HEG


HEG has been one of the good wealth creators for investors with the stock price nearly multiplying ~9x since our Company Update in August-2017. Strong demand for graphite electrodes from the EAF steel making route amid supply constraints has led to a sharp increase in graphite electrodes prices thereby resulting in healthy profitability. The continued favourable operating environment puts domestic player like HEG in a sweet spot.


Outlook


We maintain our BUY rating on the stock. A strong balance sheet and robust cash flow generation and a healthy dividend payout, going forward, reiterate our positive stance on the company.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 8, 2018 05:25 pm

stay updated

Get Daily News on your Browser
Sections