Hold HEG; target of Rs 1400: ICICI Direct

ICICI Direct recommended hold rating on HEG with a target price of Rs 1400 in its research report dated August 18, 2022.

Broker Research

August 19, 2022 / 16:40 IST

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ICICI Direct's research report on HEG

HEG is one of the leading graphite electrode manufacturers and exporters globally. HEG has a graphite electrode manufacturing plant of 80000 tonnes per annum at Mandideep in Madhya Pradesh • HEG has a captive power generation capacity of ~76.5 MW (two thermal power plants and one hydro power plant).

Outlook

Hence, we downgrade the stock from BUY to HOLD. We value HEG at Rs 1400, 6x FY24E EV/EBITDA.

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HEG - 180822 - ic

Broker Research

first published: Aug 19, 2022 04:40 pm

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