Athira Sethu
Kochi, 22 Sep 2026
The stocks of HEG Advanced Materials recorded strong gains on Monday, September 21, following the announcement of the receipt of a huge order from its subsidiary for providing lithium-ion battery banks to Indus Towers.
The price of the stock saw a gain of 5% following the start of trade and reached its circuit high level at ₹248.90 per share. It closed at ₹237.05 per share in the previous trading session. Buying was seen in the stock with over 400,000 stocks being traded on NSE and BSE.
The main factor that caused the buying was a huge order worth ₹217.56 crore received by its subsidiary named Replus Engitech Pvt. Ltd. This order has been placed by Indus Towers for the provision of lithium-ion battery banks.
According to the exchange filing done by the company, the value of the order, which is ₹217.56 crore, is inclusive of GST. The project will be completed either on or before March 31, 2027, or further, subject to mutual consent of both the parties.
The news was issued by HEG Advanced Materials on September 20, which is a Sunday. Investors got to react to this news after the stock market opened on Monday.
Shares of Indus Towers also saw slight increase in price in the morning of Monday. The price of the stock increased by 0.27%, reaching ₹376.90 compared to the previous closing price of ₹375.90.
Recent Business Activities of HEG
HEG Advanced Materials is a company that has undergone some business restructuring recently. Demergence of HEG Ltd took place in September 2026.
Following the demergence, the name of the company changed from HEG Ltd to HEG Advanced Materials Ltd. The graphite electrode business unit got divided into a separate entity called HEG Graphite Ltd.
Now, HEG Advanced Materials operates in advanced materials, battery energy solutions, green power and Bhilwara Energy, whereas HEG Graphite operates in the field of graphite electrodes.
The shareholders of the former HEG Ltd got their shares of HEG Graphite in the demerger at the 1:1 ratio.
HEG Graphite is supposed to get listed on the NSE and BSE in the second half of October 2026.
Moreover, the shares of HEG Advanced Materials have been performing well too. As per the NSE figures, the share price appreciated by about 4.9% in the last five trading days prior to Monday.
The new battery order has therefore managed to capture the attention of the investors owing to the company’s expansion into battery and advanced materials space.
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