HEG Ltd is currently the top gainer on the BSE; rising almost 9.5% to hit an intraday high at Rs.1055. Volumes surged around 3.5x.

The company incorporated a new wholly owned subsidiary yesterday in Madhya Pradesh – TACC Ltd, which will manufacture graphite anode for Lithium-ion cells.

The plant would be made in two phases, spending Rs. 1000 crore in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity. In Phase 2, the company plans to double the capacity with another Rs. 1000 crore approx. catering to a total of 20-22 MWH of cell manufacturing capacity.

It aims to finish both the phases in 5-7 years.