HEG, Graphite India shares rise up to 18% today; here's why 

HEG Ltd and Graphite India Ltd shares rose up to 18% on Tuesday after reports said Japan has imposed antidumping duty of 95.2% on graphite electrode exports from China for four months as a provisional measure, effective March 29. Investors were optimistic that the two Indian players could find an opportunity in the Japanese market post this development.

HEG shares zoomed 14% to a high of Rs 510 against the previous close of Rs 431.60 on BSE. Market cap of the firm rose to Rs 9,329 crore.

HEG shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. The stock has gained 9% in a year and risen 89.55% in two years. Total 11.86 lakh shares of HEG changed hands amounting to turnover of Rs 58.18 crore on BSE. Market cap of the firm rose to Rs 9,301.52 crore.

Graphite India stock too climbed 18% to Rs 525, rising 18% against the previous close of Rs 460.55 on BSE. Graphite India shares are trading higher than the 5 day, 10 day, 30 day, 50 day but lower than the 100 day, 150 day and 200 day moving averages.

The stock has lost 20% in one year and fallen 13.41% since the beginning of this year. Total 8.31 lakh shares of Graphite India changed hands amounting to turnover of Rs 42.31 crore on BSE. Market cap of the firm rose to Rs 9,872.73 crore.

The decision to impose the duty comes after a probe which found that China was exporting graphite electrodes—an essential industrial material used in electric arc furnace steelmaking—at unfairly low prices, affecting Japanese companies.