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Last Updated : Sep 18, 2018 01:45 PM IST | Source: Moneycontrol.com

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.

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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.




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First Published on Aug 8, 2018 05:25 pm
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