StocksMarket.in

Buy HEG; target of Rs 5000: ICICI Direct

August 09
03:24 2018

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.

Related Articles

Archives