Stocks to Watch, 4 August: Stocks like ABB India, Dilip Buildcon, ITC, Railtel Corporation of India, Hero MotoCorp, Delhivery, MCX, Muthoot Capital Services, Harsha Engineers, Tata Power, and Federal Bank will be in focus on August 4.
The capacity expansion by HEG can also be seen in the light of the US recently seeking to nudge its EV manufacturing to rely less on Chinese components.
Resonac will liquidate its subsidiaries in China and Malaysia, leaving it with four sites in Japan, the US, Austria and Spain, reported Nikkei
The company should benefit from the structural trend of decarbonisation in the steel industry
Graphite India’s performance remains under pressure due to weak global demand, cost inflation, and volatile raw material prices.
Graphite electrodes are used in the steel industry and have become increasingly important in lithium-ion batteries, used by the automotive sector. Statista says the global market value of graphite is projected to reach $38 billion by 2028.
HEG has recently completed its graphite electrode plant's capacity expansion to 100,000 tonne, which will make it the single largest plant in any location in the entire western world.
The graphite electrode player is likely to be a key beneficiary of the decarbonisation trend in the steel industry
Resonac Graphite - a leading player in the business of graphite electrodes - hiked prices by over 20% on all orders effective from September 9.
Nifty is in continuation of an uptrend and next resistance for the index is seen in the zone of 22,800-23,000, where Calls have been written.
Experts are hopeful of further uptrend towards 22,700-22,800 in the coming sessions, with support at 22,300-22,200 levels, and the volatility index diving to November 2023 lows
Praj Industries formed bullish candlestick pattern with upper and lower shadows on the daily charts, with above average volumes. The stock traded above all key moving averages, with higher highs, higher lows formation.