Graphite India
ICICI Direct
Broker Research reports: Sell reports
for Industry - Electrodes & Refractories
- This broker has downgraded this stock from it's previous report. (eg. - Buy->Hold)
- Broker has maintained previous recommendation but reduced share price target.
- This broker has upgraded this stock from it's previous report.(eg. - Sell->Hold)
- Broker has maintained previous recommendation but increased share price target.
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| Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 07 Aug 2022 | Graphite |
ICICI Direct
|
571.65 | 390.00 | 418.05 (36.74%) | Target met |
Sell
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| 19 Aug 2019 | HEG |
ICICI Securities Limited
|
515.90 | 900.00 | 963.65 (-46.46%) | Target met |
Sell
|
HEG Limited
ICICI Securities Limited
Graphite electrodes are used in the EAF route of steelmaking. Global steel demand has been negatively impacted by a weakening global economy. World Steel Association (WSA) forecasts global steel demand will reach 1735 million tonnes (MT) in CY19, a modest increase of 1.3% and 1752 MT in CY20, an increase of 1.0% over 2019. In the current muted demand scenario, excess production of graphite electrodes in China due to relatively slow ramp up of EAF capacities has led to cheaper graphite electrode exports to other countries (from China). Against the backdrop of removal of...
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| 13 Aug 2019 | Graphite |
ICICI Securities Limited
|
571.65 | 275.00 | 292.00 (95.77%) | Target met |
Sell
|
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| 27 May 2019 | HEG |
ICICI Securities Limited
|
515.90 | 1700.00 | 1813.30 (-71.55%) | Target met |
Sell
|
HEG Limited
ICICI Securities Limited
HEG reported a steady Q4FY19 performance wherein the topline came in marginally lower than our estimates while EBITDA and PAT came in higher than our estimate. The company reported a capacity utilisation of ~80% (lower than our estimate of 85% in Q4FY19, 84% in Q4FY18 and 82% in Q3FY19). HEG reported a topline of | 1346.7 crore (down 27.8% QoQ, up 4.2% YoY, marginally lower than our estimate: | 1393.6 crore). EBITDA for the quarter was at | 788 crore (higher than our estimate of | 695.7 crore). EBITDA margin was at 58.5% (higher than our estimate of 49.9% in Q4FY19,...
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