# HEG (HEG) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/heg

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹237.05
- Change: -67.45%
- As of: 2026-09-18
- 1D return: -67.45%
- 5D return: -67.47%
- 1M return: -65.32%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, HEG's stock is trading at ₹237.05, indicating a predominantly bearish technical stance across multiple timeframes. Daily, weekly, and monthly indicators consistently show the price below key moving averages and the Supertrend indicator, suggesting downward pressure. This alignment across timeframes reinforces the current bearish setup. The nearest resistance is observed at ₹368.85, approximately 55.6% above the current price, with further resistance levels at ₹494.52 and ₹509.11. The stock is currently positioned at the lowest point of its recent trading range, with a maximum drawdown of -0.68% and annualized volatility of 0.67%. Recent anomalies include a significant downward gap on both daily and weekly charts on September 18, 2026, accompanied by a Bearish Engulfing Reversal and an Outside Bar pattern on the monthly timeframe, further underscoring the prevailing bearish sentiment.

- The stock's current price of ₹237.05 on September 18, 2026, is below its daily, weekly, and monthly moving averages and Supertrend.
- Nearest resistance level identified at ₹368.85, representing a 55.6% increase from the current price.
- The stock is trading at the bottom of its recent range, with a maximum drawdown of -0.68%.
- A significant downward gap occurred on September 18, 2026, on both daily and weekly charts.
- Monthly patterns include an active Bearish Engulfing Reversal and an active Outside Bar.

- Bearish Engulfing Reversal
- Outside Bar
- Doji
- Harami
- Morning Star

### What Changed

On September 17, 2026, LNJ Spark Advisory LLP disclosed an increase in its shareholding in HEG Advanced Materials Limited, crossing the 5% threshold. This change followed the allotment of shares under a Composite Scheme of Arrangement involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. The transaction resulted in the overall Promoter Group's stake increasing from 56.28% to 60.72%. Notably, the acquirers were exempted from making a public offer under specific SEBI regulations. In terms of recent price movement, HEG's stock closed at ₹237.05 on September 18, 2026, an increase from its previous closing price of ₹225.8. The company's common name remains H.E.G., and it is listed on the NSE.

- On September 17, 2026, LNJ Spark Advisory LLP increased its shareholding in HEG Advanced Materials Limited to over 5% following a Composite Scheme of Arrangement.
- The Promoter Group's total stake in the company rose to 60.72% from 56.28% as a result of this share allotment.
- Acquirers in this transaction received an exemption from the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for making an open offer.
- HEG's stock price closed at ₹237.05 on September 18, 2026, up from ₹225.8 previously.

- LNJ Spark Advisory LLP has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011. |SUBJECT: Disclosure under SEBI Takeover Regulations

### Official Filings

HEG Limited is undergoing a significant corporate restructuring and rebranding, set to officially change its name to HEG Advanced Materials Limited and its stock exchange symbol to HEGAM effective September 22, 2026. This follows a composite scheme of arrangement involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. As part of this restructuring, the Promoter Group's shareholding has increased from 56.28% to 60.72% following share allotments. Notably, LNJ Spark Advisory LLP disclosed an increase in its shareholding exceeding 5% on September 17, 2026, with the acquirers exempted from making an open offer under SEBI regulations. The company also recently received an ESG score of 60 for FY 2026 from NSE Sustainability Ratings and Analytics Limited, a decrease from 63 in FY 2025, with the rating attributed to the Graphite Business prior to its demerger on September 1, 2026. Recent leadership changes include the resignation of Mr. Salil Bawa, President - Investor Relations, effective September 14, 2026, and other unspecified changes in Directors/KMP/SMP.

- Company name change to HEG Advanced Materials Limited and symbol change to HEGAM effective September 22, 2026.
- Promoter Group's shareholding increased to 60.72% following a composite scheme of arrangement.
- LNJ Spark Advisory LLP disclosed shareholding exceeding 5% on September 17, 2026, under SEBI Takeover Regulations.
- HEG Advanced Materials Limited assigned an ESG score of 60 for FY 2026, down from 63 in FY 2025.
- Resignation of Mr. Salil Bawa, President - Investor Relations, effective September 14, 2026.

- LNJ Spark Advisory LLP has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011. |SUBJECT: Disclosure under SEBI Takeover Regulations
- HEG: Members of the Exchange are hereby informed that the name of HEG Limited will be changed to HEG Advanced Materials Limited and symbol will be changed to HEGAM w.e.f. September 22, 2026. |SUBJECT: Name and Symbol Change
- HEG Limited has informed the Exchange regarding Resignation of Mr Salil Bawa, President - Investor Relation, forming part of the Senior Management Personnel w.e.f. September 14, 2026. |SUBJECT: Resignation
- HEG Limited has informed the Exchange about Resignation of Director/KMP/SMP |SUBJECT: Resignation of Director/KMP/SMP
- HEG Advanced Materials Limited (Formerly HEG Limited) has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA
- HEG Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- HEG LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- HEG Limited has informed the Exchange regarding 'Re-lodgement of Transfer Requests of Physical Shares for the month of August, 2026'. |SUBJECT: Updates
- HEG Limited has informed the Exchange regarding 'change in the Company's website from www.hegltd.com to www.hegadvancedmaterials.com |SUBJECT: Updates
- HEG Limited has informed the Exchange about Assignment of ESG Score by NSE Sustainability Ratings & Analytics Limited |SUBJECT: General Updates

### Fundamentals

H.E.G. reported mixed results for the quarter ending September 2025 (Q2 FY26), with Revenue from Operations at ₹699 crore, an increase from ₹568 crore in Q2 FY25. However, Operating Profit saw a decline to ₹97 crore from ₹102 crore in the same period, leading to a decrease in the Operating Profit Margin (OPM) from 17.0% to 17.0%. Profit Before Tax (PBT) also decreased to ₹103 crore from ₹118 crore, and Net Profit fell to ₹82 crore from ₹96 crore year-on-year.

Looking at the projected periods, the company anticipates a significant shift. For Q3 FY26, Revenue from Operations is projected at ₹656.33 crore, with a projected Operating Profit of ₹106 crore and an OPM of 17.0%. However, the outlook for Q4 FY26 shows a sharp decline in Revenue to ₹603.21 crore and a negative Operating Profit of -₹148 crore, resulting in a projected OPM of -25.0%. This trend continues into Q1 FY27 with projected Revenue of ₹680.79 crore and a negative Operating Profit of -₹114 crore, and a PBT of ₹134.58 crore. The company's balance sheet shows total borrowings at ₹623 crore in March 2024, decreasing to ₹588 crore by March 2025, with projected increases to ₹796 crore by March 2026. Fixed Assets have shown a substantial increase from ₹763 crore in March 2022 to ₹1816 crore in March 2024, with further increases projected.

Key monitoring areas include the significant drop in projected operating profitability and margins in the latter half of FY26 and into FY27, alongside the increasing trend in borrowings and fixed assets. The company's ability to manage its debt and the return generated from its expanding fixed asset base will be crucial.

- For Q2 FY25 (ended September 2025), Revenue from Operations was ₹699 crore, with Operating Profit at ₹97 crore and OPM at 17.0%. Net Profit was ₹82 crore.
- Projected Q3 FY26 Revenue is ₹656.33 crore, with Operating Profit of ₹106 crore and OPM of 17.0%.
- Projected Q4 FY26 shows a sharp decline with Revenue of ₹603.21 crore and a negative Operating Profit of -₹148 crore, resulting in a -25.0% OPM.
- Total borrowings were ₹623 crore in March 2024, projected to increase to ₹796 crore by March 2026.
- Fixed Assets increased from ₹763 crore in March 2022 to ₹1816 crore in March 2024, with further increases projected.

### Bull Case

H.E.G. has demonstrated significant growth in both sales and profits over the trailing twelve months (TTM) and a five-year period. The company's Compounded Sales Growth stands at 20% for the TTM and 15% over five years. Profit growth is even more pronounced, with a Compounded Profit Growth of 80% for the TTM and 46% over five years. This indicates a strong upward trend in the company's top-line and bottom-line performance. Furthermore, the company has managed to reduce its total borrowings from ₹667 crore in March 2019 to ₹594 crore in March 2020, while its equity capital remained stable at ₹39 crore during the same period. The company also increased its investments from ₹942 crore in March 2019 to ₹1,245 crore in March 2020.

- Compounded Sales Growth was 20% for the Trailing Twelve Months (TTM) and 15% over 5 years.
- Compounded Profit Growth was 80% for the TTM and 46% over 5 years.
- Total borrowings decreased from ₹667 crore in March 2019 to ₹594 crore in March 2020.
- Investments increased from ₹942 crore in March 2019 to ₹1,245 crore in March 2020.

- Momentum Stocks: Tata Chemicals, Tata Investment, eMudhra gain up to 14% on sheer momentum

### Bear Case

The company's financial position shows a notable increase in investments, rising from ₹942 crore in March 2019 to ₹1,245 crore in March 2020. Concurrently, other assets decreased significantly from ₹3,396 crore to ₹2,348 crore over the same period. Cash flow from operations has also seen a substantial decline, from ₹1,488 crore in March 2019 to ₹739 crore in March 2020, and the operating cash flow to profit ratio (CFO/OP) turned sharply negative at -17,020.0 in March 2020, compared to a positive 67.0 in March 2019. Free cash flow also decreased from ₹1,441 crore to ₹503 crore between these periods. Technical indicators suggest a bearish trend across daily, weekly, and monthly timeframes, with the Supertrend direction indicated as bearish on all these periods as of September 18, 2026. The stock has experienced significant price declines, with a 1-year return of -54% and a year-to-date return of -62%.

- Investments increased by ₹303 crore from ₹942 crore (Mar 2019) to ₹1,245 crore (Mar 2020).
- Cash flow from operations decreased by ₹749 crore from ₹1,488 crore (Mar 2019) to ₹739 crore (Mar 2020).
- Operating cash flow to profit (CFO/OP) shifted from 67.0 (Mar 2019) to -17,020.0 (Mar 2020).
- The stock's 1-year return was -54% and year-to-date return was -62% as of September 18, 2026.

- Momentum Stocks: Tata Chemicals, Tata Investment, eMudhra gain up to 14% on sheer momentum

### FAQs

**What are the recent significant corporate actions and name changes for HEG Limited?**

HEG Limited is undergoing a name change to HEG Advanced Materials Limited, effective September 22, 2026, with its stock symbol also changing to HEGAM. Additionally, there have been recent filings regarding changes in directors and senior management personnel, including the resignation of Mr. Salil Bawa, President - Investor Relation. A recent filing on September 17, 2026, also disclosed an increase in shareholding by LNJ Spark Advisory LLP, bringing the Promoter Group's stake to 60.72% following a composite scheme of arrangement.

**How has HEG Limited's financial performance changed between March 2019 and March 2020?**

Between March 2019 and March 2020, HEG Limited saw a decrease in Total Assets from ₹5,144 crore to ₹4,438 crore, and Total Liabilities also decreased from ₹5,144 crore to ₹4,438 crore. Borrowings reduced from ₹667 crore to ₹594 crore, while Investments increased from ₹942 crore to ₹1,245 crore. Cash Flow from Operating Activity declined from ₹1,488 crore to ₹739 crore, and Free Cash Flow decreased from ₹1,441 crore to ₹503 crore. However, Compounded Sales Growth for the TTM period was 20% and Compounded Profit Growth was 80%.

**What is the current technical trend and risk profile for HEG Limited as of September 18, 2026?**

As of September 18, 2026, the technical indicators suggest a bearish trend across daily, weekly, and monthly timeframes, with the Supertrend indicator showing a bearish direction on all these periods. The stock has experienced significant negative returns across various periods, with a -67% return over 1 year and a -62% return year-to-date. The current drawdown is -68%, which also represents the maximum drawdown experienced. Annualized volatility stands at 67%.

- Momentum Stocks: Tata Chemicals, Tata Investment, eMudhra gain up to 14% on sheer momentum
- LNJ Spark Advisory LLP has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011. |SUBJECT: Disclosure under SEBI Takeover Regulations
- HEG: Members of the Exchange are hereby informed that the name of HEG Limited will be changed to HEG Advanced Materials Limited and symbol will be changed to HEGAM w.e.f. September 22, 2026. |SUBJECT: Name and Symbol Change
- HEG Limited has informed the Exchange regarding Resignation of Mr Salil Bawa, President - Investor Relation, forming part of the Senior Management Personnel w.e.f. September 14, 2026. |SUBJECT: Resignation
- HEG Limited has informed the Exchange about Resignation of Director/KMP/SMP |SUBJECT: Resignation of Director/KMP/SMP
- HEG Advanced Materials Limited (Formerly HEG Limited) has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Insufficient History
- Pivot point: ₹722.98
- Risk regime: Higher Price Risk

### Resistance levels
- 368.85
- 494.521875
- 509.1138977050781

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -67.45% |
| return_10 | -67.20% |
| return_1m | -67.93% |
| return_1y | -54.30% |
| return_20 | -65.32% |
| return_3m | -55.99% |
| return_5 | -67.47% |
| return_6m | -53.62% |
| return_since_start | -55.30% |
| return_ytd | -62.02% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -67.93% |
| annualized_volatility | +67.08% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Rebounds and Profitability Restored After Quarterly Loss

The quarter ended 30 June 2026 marked a return to profitability for HEG Limited following a loss in the preceding quarter. Revenue from operations rose 12.86% compared to the prior quarter, while total expenses fell 27.62%. Together, these movements swung the result from a loss before tax of ₹171.71 crore to a profit before tax of ₹134.58 crore. Profitability recovered above the year-ago level but remained below the peaks seen in the middle of the previous fiscal year.

## Revenue Performance and Trend

Revenue from operations for the quarter stood at ₹680.79 crore. This was an increase of ₹77.58 crore, or 12.86%, from the ₹603.21 crore recorded in the quarter ended 31 March 2026. On a year-over-year basis, revenue grew 10.35%, rising from ₹616.93 crore in the quarter ended 30 June 2025.

The current quarter’s revenue was lower than the peak of ₹699.22 crore achieved in the quarter ended 30 September 2025. However, the movement from the low of ₹603.21 crore in the immediately preceding quarter indicates a recovery in top-line performance.

## Profitability and Expense Normalization

Total expenses for the quarter were ₹589.77 crore, a decrease of ₹225.04 crore, or 27.62%, from the ₹814.81 crore reported in the quarter ended 31 March 2026. The combination of higher revenue and lower expenses resulted in a profit before tax of ₹134.58 crore, compared to a loss before tax of ₹171.71 crore in the prior quarter.

Compared to the year-ago period, total expenses increased by 2.98%, from ₹572.73 crore to ₹589.77 crore. Revenue grew 10.35% over the same period, so the faster revenue growth led to a higher profit before tax.

The following expense components were reported for the quarter:
- Cost of Materials Consumed: ₹265.17 crore
- Changes in Inventories: -₹14.11 crore
- Employee Benefit Expense: ₹32.69 crore
- Finance Costs: ₹9.97 crore
- Depreciation, Depletion and Amortisation: ₹49.59 crore

The sum of these components was ₹343.31 crore. Total expenses for the quarter were ₹589.77 crore.

## Tax and Net Income Reconciliation

Profit before tax was ₹134.58 crore and the reported tax expense was ₹42.74 crore. Subtracting the tax expense from profit before tax gives ₹91.84 crore. However, the reported profit for the period was ₹122.34 crore, a difference of ₹30.50 crore. A similar difference was observed in the quarter ended 31 December 2025, when profit for the period exceeded profit before tax minus tax expense by ₹65.14 crore.

## Balance Sheet Structure

The balance sheet as of 30 June 2026 showed growth in asset and liability bases.

Net segment assets increased by 2.73% quarter-on-quarter to ₹6,333.97 crore. Unallocable assets grew by 6.86% to ₹2,595.95 crore. On a year-over-year basis, unallocable assets rose 37.33% from ₹1,890.29 crore.

Net segment liabilities increased by 3.26% to ₹1,453.78 crore. Unallocable liabilities increased by 71.53%, moving from ₹126.05 crore to ₹216.21 crore, a rise of ₹90.16 crore.

## Key Takeaway

The quarter ended 30 June 2026 saw a return to profitability driven by a 12.86% sequential increase in revenue and a 27.62% decline in total expenses. Profit before tax reached ₹134.58 crore, above the year-ago figure but below the mid-year peaks of the prior fiscal year. Profit for the period of ₹122.34 crore exceeded the amount obtained by subtracting the reported tax expense from profit before tax by ₹30.50 crore. The balance sheet reflected continued growth in both segment and unallocable assets and liabilities.

### Ratios

## Official filings

- 2026-09-18 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEGAM_18092026171222_StEX_Order_REPlus.pdf)
- 2026-09-18 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEGAM_18092026183630_StEX_Order_REPlus_revised18092026.pdf)
- 2026-09-18 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_1202_WebXMLFile_20260918_184857457.xml)
- 2026-09-17 — Shareholding Disclosure: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/team_bbodade_17092026193201_HEG.pdf)
- 2026-09-16 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/smamodia_16092026174640_CML76359.pdf)
- 2026-09-14 — Management Change: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEGAM_14092026180948_StEX_SMP_Cessation_SalilBawa.pdf)
- 2026-09-14 — Management Change: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_ROID_98380_KMP_Doc.zip)
- 2026-09-14 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_1202_WebXMLFile_20260914_181926404.xml)
- 2026-09-10 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_10092026220227_STEXInvestorCall10092026.pdf)
- 2026-09-10 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1202_WebXMLFile_20260910_220544496.xml)
- 2026-09-08 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_08092026202937_STEXRElodgement08092026.pdf)
- 2026-09-06 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_06092026210633_HEGAM_STEX_Website.pdf)
- 2026-09-03 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_03092026153248_HEGAM_ESGRating.pdf)
- 2026-09-03 — Press Release: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_03092026165419_HEGAM_PR.pdf)
- 2026-09-02 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_02092026194518_HEGAM_STEX.pdf)
- 2026-08-27 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_27082026203227_Stxintimation270826SS.pdf)
- 2026-08-27 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1202_WebXMLFile_20260827_203716873.xml)
- 2026-08-25 — Management Change: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_ROID_97046_KMP_Doc.zip)
- 2026-08-25 — Press Release: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_25082026170347_HEG_Final_Press_Realease_Intimation.pdf)
- 2026-08-24 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_24082026184256_FinalOutcome24082026.pdf)
- 2026-08-24 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_24082026182611_FinalOutcome24082026.pdf)
- 2026-08-24 — Management Change: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_24082026184410_FinalOutcome24082026.pdf)
- 2026-08-24 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_24082026182755_FinalOutcome24082026.pdf)
- 2026-08-24 — Generic Announcement: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_24082026184144_FinalOutcome24082026.pdf)
- 2026-08-24 — Management Change: HEG Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HEG_24082026184539_FinalOutcome24082026.pdf)

## News and market events

- 2026-09-18 — CNBC-TV18: **HEG Advanced Materials arm Replus Engitech gets ₹218 crore Indus Towers order** — Shares of HEG Advanced Materials Ltd ended at ₹238.55, up by ₹11.35, or 5.00%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/heg-advanced-materials-share-price-arm-replus-engitech-gets-rs-218-crore-indus-towers-order-19993763.htm)
- 2026-09-15 — MONEYCONTROL: **Momentum Stocks: Tata Chemicals, Tata Investment, eMudhra gain up to 14% on sheer momentum** — buzzing stocks — [Source](https://www.moneycontrol.com/news/business/markets/momentum-stocks-tata-chemicals-tata-investment-emudhra-gain-up-to-14-on-sheer-momentum-14029856.html)
- 2026-09-10 — CNBC-TV18: **IRB Infra, Ola Electric lead Nifty 500 gainers; HEG, Craftsman Automation fall at market open** — Monthly toll revenue data was among the reasons that moved a stock over 5% on the Nifty 500 at market open, while one stock extending its decline toward a fresh 52-week low — here's a look at today's top gainers and losers. — [Source](https://www.cnbctv18.com/market/stocks/irb-infrastructure-ola-electric-nifty-500-gainers-heg-craftsman-automation-sai-life-sciences-share-price-19988093.htm)
- 2026-09-09 — The Hindu: **Graphite India rallies near 8-year high, HEG surges as GrafTech announces 30% price hike** — Graphite India shares jumped 18.4% to ₹870 on Wednesday, nearing an eight-year high. At 12:53 pm, the stock was up 17% at ₹858 — [Source](https://www.thehindubusinessline.com/markets/stock-markets/graphite-india-rallies-near-8-year-high-heg-surges-as-graftech-announces-30-price-hike/article71446271.ece)
- 2026-09-09 — Mint: **Graphite India share price soars 18% to touch 52-week high; here’s what’s behind the sudden rally** — Graphite India shares soared 18%, reaching a 52-week high, following GrafTech International's announcement of a 30% price increase. Analysts see this as a potential sign of a recovery in global electrode prices, benefiting Indian manufacturers like Graphite India enhancing earnings visibility. — [Source](https://www.livemint.com/market/stock-market-news/graphite-india-share-price-soars-18-to-touch-52-week-high-here-s-what-s-behind-the-sudden-rally-11788928498043.html)
- 2026-09-09 — BUSINESSTODAY: **Graphite India shares rise over 18%, hit fresh 52-week high; here's why** — Graphite India share price, Graphite electrode price rises, Graphite India share price rises, Graphite India share price today order, Graphite India, Graphite India, GrafTech International — [Source](https://www.businesstoday.in/markets/stocks/story/graphite-india-shares-rise-over-18-percent-hit-fresh-52-week-high-heres-why-554146-2026-09-09)
- 2026-09-09 — CNBC-TV18: **Here's why Graphite India shares may see a reaction on Wednesday** — As per rough calculations, GrafTech's average Graphite Electrode realization stood at $4,100 per tonne. Analysts expect that figure to reach $6,250 per tonne by financial year 2028. — [Source](https://www.cnbctv18.com/market/graphite-india-share-price-graftech-international-electrode-price-increase-positive-read-through-impact-realization-19987072.htm)
- 2026-09-07 — MONEYCONTROL: **Edelweiss Financial promoter sells over half a percent stake; HDFC MF buys 0.51% stake in HEG** — Bulk deals,Edelweiss Financial Services,HEG,GMM Pfaudler,Kopran,RPP Infra Projects — [Source](https://www.moneycontrol.com/news/business/markets/edelweiss-financial-promoter-sells-over-half-a-percent-stake-hdfc-mf-buys-0-51-stake-in-heg-14024644.html)
- 2026-09-07 — The Hindu: **HEG trades ex-Graphite business, gains 3% on debut** — The stock closed at ₹273 on the NSE, valuing the company (ex-graphite) at ₹5,300 crore — [Source](https://www.thehindubusinessline.com/markets/stock-markets/heg-trades-ex-graphite-business-gains-3-on-debut/article71439721.ece)
- 2026-09-07 — Economic Times: **Did HEG shares really crash 64% in one day? Here’s how the demerger math works** — HEG shares opened nearly 64% lower on Monday as the stock adjusted for the companys demerger, which split its businesses into two separately listed entities. The graphite electrodes business will move to HEG Graphite, while the existing listed company will retain advanced materials, battery energy solutions and green power businesses and be renamed HEG Advanced Materials. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/did-heg-shares-really-crash-64-in-one-day-heres-how-the-demerger-math-works/articleshow/133866176.cms)
- 2026-09-07 — CNBC-TV18: **HEG Advanced Material shares see discovered price of ₹260 on the bourses; Here's what you need to know** — Existing shareholders will get one share of the new graphite company, for every one share they own as on the record date. Bhilwara Energy shareholders will receive eight shares of HEG Advanced Materials for every 10 shares of Bhilwara Energy. All the shares, barring those of Bhilwara Energy, carry a face value of ₹2. — [Source](https://www.cnbctv18.com/market/heg-advanced-material-share-price-stock-market-debut-demerger-shareholder-entitlement-graphite-electrode-entity-timeline-business-19985309.htm)
- 2026-09-07 — The Hindu: **Sensex today | Stock Market LIVE: Stock to buy today: HEG (₹729.05)** — Sensex, Nifty, Share Prices Live: BSE Sensex settled 362.57 pts or 0.48% higher at 76,515.43. Nifty 50 was up 24.25 pts or 0.10% to 23,897.70. For the week, the benchmarks lost 1.2% and 1%, marking their fourth ‌consecutive weekly decline and their longest losing streak in ‌five ⁠months. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-7th-september-2026/article71437259.ece)
- 2026-09-07 — The Hindu: **Stocks to buy today, HEG Ltd** — Buy HEG stock at ₹729, accumulate at ₹700, with a stop-loss at ₹650; potential rise to ₹850. — [Source](https://www.thehindubusinessline.com/portfolio/technical-analysis/stock-to-buy-today-heg72905/article71431198.ece)
- 2026-09-04 — CNBC-TV18: **Sensex rises 363 points, Nifty gains 24 points: 3 reasons why stocks ended mixed** — Broader markets underperformed, with the Nifty Midcap index falling 156 points to 63,079, while several stocks moved sharply on company-specific developments. — [Source](https://www.cnbctv18.com/market/sensex-rises-363-points-nifty-gains-24-points-3-reasons-why-stocks-ended-mixed-19984343.htm)
- 2026-09-04 — The Hindu: **Stocks in focus: IEX, PowerGrid, RVNL, APSEZ, Bharat Forge, HEG, brokerage stocks,Cipla among dozen stocks will be in focus** — IEX logs record August volumes; HEG renamed as scheme takes effect — [Source](https://www.thehindubusinessline.com/markets/stocks-in-focus-iex-powergrid-rvnl-apsez-bharat-forge-heg-brokerage-stockscipla-among-dozen-stocks-will-be-in-focus/article71426821.ece)
- 2026-08-25 — Economic Times: **Stocks in news: TCS, ICICI Bank, Hindustan Copper and Piramal Finance** — The Indian equity markets experienced a downturn today, with the Nifty50 index finishing slightly above 24,200. Traders brace for heightened volatility amidst forthcoming US sanctions and the impending expiry of monthly futures and options. Key companies, such as Hindustan Copper and Tata Consultancy Services, are capturing market attention due to notable corporate news. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-tcs-icici-bank-hindustan-copper-and-piramal-finance/articleshow/133475143.cms)
- 2026-08-20 — Economic Times: **Stocks in news: Hyundai Motor India, BSE, HEG, Hexaware Tech and Oil India** — Indian equity markets extended their losing streak to a seventh consecutive session, with the Nifty50 closing lower at 24,078.30. Key corporate developments are expected to influence Thursday's trade, including Hyundai Motor India's planned price increase, Aditya Infotech's fundraising approval, and BSE's agreement with MSCI for index futures and options. Other companies like HEG, Ceigall India, and HDFC Life Insurance also saw significant announcements. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-hyundai-motor-india-bse-heg-hexaware-tech-and-oil-india/articleshow/133353448.cms)
- 2026-08-20 — The Hindu: **18  stocks including  BSE, LIC, HDFC Bank, Aditya Infotech, Ramco Systems, Titagarh Rail, Gravita, Strides, Dr Lal Path in focus today** — Focus will also be on Autoline, Tata Motors, NIS, Quint Digital, HEG, Cellar Gadgets, Ceigall, EMS, Mukund — [Source](https://www.thehindubusinessline.com/markets/18-stocks-including-bse-lic-hdfc-bank-aditya-infotech-ramco-systems-titagarh-rail-gravita-strides-dr-lal-path-in-focus-today/article71367601.ece)
- 2026-08-19 — Mint: **HEG receives NCLT approval for demerger scheme; shareholders to get 1:1 shares in HEG Graphite** — HEG has received approval from the NCLT for its demerger plan, creating two independent companies. Shareholders will receive one HEG Graphite share for each HEG share. The restructuring aims to offer differentiated exposure to graphite electrodes and advanced materials, enhancing long-term value. — [Source](https://www.livemint.com/market/stock-market-news/heg-receives-nclt-approval-for-demerger-scheme-shareholders-to-get-1-1-shares-in-heg-graphite-11787157686872.html)
- 2026-08-05 — BUSINESSTODAY: **Godfrey Phillips, HEG, Gujarat Fluoro: Top stocks to trade— Target price, stop loss & more** — Stocks to buy, Stock picks, Stocks to trade, trading views, HEG, Godfrey Phillips India, Gujarat Fluorochemicals, HEG shares, Godfrey Phillips shares, Gujarat Fluorochemicals shares, HEG share price, Godfrey Phillips share price, Gujarat Fluorochemicals share price, HEG stock price, Godfrey Phillips stock price, Gujarat Fluorochemicals stock price, HEG target price, Godfrey Phillips target price, Gujarat Fluorochemicals target price — [Source](https://www.businesstoday.in/markets/stocks/story/godfrey-phillips-heg-gujarat-fluoro-top-stocks-to-trade-target-price-stop-loss-more-547240-2026-08-05)
- 2026-07-23 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty recovers 100 points off lows; market recovers** — Sensex Today | Stock Market LIVE Updates: The markets remain under pressure as Crude continues to stretch the bulls. The Nifty is down nearly 100 points, falling below the 23,900 on this weekly expiry day. The Nifty bank is down 350 points, falling to 56,700. Dr Reddy's, Nestle, Infosys. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-crude-hpcl-drl-indusind-eternal-infosys-sona-blw-share-price-liveblog-19951892.htm)
- 2026-07-23 — CNBC-TV18: **Q1 Results LIVE Updates: NTPC Green shares rise 8%; Infosys, Cipla, IndiGo report today** — Q1 Results LIVE Updates: Three more Nifty 50 stocks, Infosys, IndiGo, Cipla, are reporting their June quarter results today. IEX, Allied Blenders, Chennai Petro, Capital Small Finance Bank, Go Digit General Insurance, Cyient, Mahindra Life, Motilal Oswal, Mphasis, PVR INOX, are among the other results coming in today. Result reactions will be keenly awaited from Dr. Reddy's Laboratories, whose ADR fell 10% overnight, and IndusInd Bank among many others. Watch this space for all the LIVE earnings updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-infosys-cipla-indigo-dr-reddys-indusind-iex-ofss-meesho-motilal-oswal-cyient-share-price-liveblog-19951905.htm)
- 2026-07-22 — CNBC-TV18: **HEG Q1 profit jumps 17%, margin expansion powers earnings growth** — HEG delivered a healthy earnings beat driven by strong margin expansion and improved operating leverage, while simultaneously advancing its transition toward higher-value advanced materials and battery supply-chain opportunities. — [Source](https://www.cnbctv18.com/market/earnings/heg-q1-profit-jumps-17-margin-expansion-powers-earnings-growth-19951718.htm)
- 2026-07-17 — The Hindu: **Stock to buy today: HEG (₹608) – BUY** — Buy HEG shares at ₹608; target ₹710 with a bullish outlook and strategic stop-loss recommendations for traders. — [Source](https://www.thehindubusinessline.com/portfolio/technical-analysis/stock-to-buy-today-heg-608-buy/article71229756.ece)
- 2026-07-14 — Economic Times: **RR Kabel among 5 stocks flashing bullish signals, hinting at a possible uptrend** — On July 13, five Nifty 500 stocks that gained over 4% appeared on the 'White Marubozu' bullish scanner, according to StockEdge's technical scan data. The bullish candlestick pattern reflects strong buying momentum throughout the trading session, signalling sustained positive sentiment and the potential for a continuation of the upward price trend. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/rr-kabel-among-5-stocks-flashing-bullish-signals-hinting-at-a-possible-uptrend/slideshow/132379693.cms)

## Business profile

**Strategic vision:** Manufactures and exports graphite electrodes and carbon products.

### Business segments
- **Graphite Electrodes Manufacturing:** Manufactures and exports graphite electrodes, with a focus on Ultra High Power (UHP) grade for Electric Arc Furnace applications. The product range includes various sizes and larger diameter electrodes.
- **Carbon Products:** Produces carbon products, flexible graphite, and carbon cloth as part of its diversified offerings.

### Competitive strengths
- Operates a large single-site integrated graphite electrode plant.
- Possesses captive power generation facilities to support manufacturing.
- Adheres to international quality and environmental standards.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/heg
Markdown representation: https://faxioms.com/stocks/heg?render=md