HEG Ltd. is the only stock that gave more than tenfold returns in the current financial year.
The maker of graphite electrodes soared 1,350 percent this financial year. That's the most among 1,696 stocks with a market capitalisation of more than Rs 100 crore as of the last trading day of March last year.
The market value of the company jumped from Rs 890 crore to nearly Rs 13,000 crore as demand for graphite electrodes jumped after China decided to shut polluting steelmakers.
Graphite electrodes are used to melt scrap in electric arc furnaces to make steel. Their key raw material is needle coke, which is made of petroleum and coal tar.
HEG posted a consolidated loss during the last financial year. It trades at a valuation of 10 times its next year earnings estimate. The consensus of analysts' estimates tracked by Bloomberg is 10 percent above its current market price.
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