HEG noted in its Q3 FY26 presentation that weak global production weighs on graphite electrode demand, with cautious customer purchasing keeping spot prices under pressure.
Emkay Global said the graphite business would be demerged into HEG Graphite Ltd, with existing HEG Ltd shareholders receiving shares on a one-to-one basis.
Graphite India climbed 14.93 per cent to hit a high of Rs 558.75 on BSE. In the case of HEG, this stock was trading 8.28 per cent higher at Rs 530.95. This scrip hit a high of Rs 544.65 earlier today.
HEG is a leading graphite electrode manufacturer, which has one of the largest integrated graphite electrode plants in the world, processing UHP (Ultra High Power) electrodes.
HEG shares gained 10.14% to Rs 2544 on Wednesday against the previous close of Rs 2309.75 in the previous session. Market cap of the firm climbed to Rs 9679 crore on BSE.
HEG Q1 earnings: HEG shares slipped 7.21% to Rs 2011 on Wednesday against the previous close of Rs 2167.40 in the previous session. Market cap of the firm fell to Rs 7801 crore on BSE.