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Tirupati Graphite (TGR) Shares Surged 15.5% As Investors Cheer Its Latest Milestones

Updated: 9 Jun 2021

Shares of Tirupati Graphite PLC (LON: TGR) surged 15.5% after the Telegraph published a story detailing its success in creating a graphene-aluminium composite material that could replace copper wires in aeroplanes.

The company has been working with a global aeroplane manufacturer to test the effectiveness of the material that could replace copper wiring in modern aeroplanes since it is lighter than copper and can be manufactured at scale.

Investors were pleased to hear that the company is set to profit from the projected high demand for copper driven by the shift to electric cars and the proliferation of 5G networks and the associated electronic devices.

Tirupati had issued an operations update yesterday announcing the opening of its Vatomina mine to help plug the supply gap in the graphite industry with its high-quality natural flake graphite.

The specialist graphite and graphene producer has operation in Madagascar and India and has invested heavily in training its local staff to equip them with the necessary engineering skills needed to work in the industry.

Investors cheered the recent updates after the Telegraph article highlighted the potential leading role that Tirupati’s graphene and graphite products could play in the green economy as both governments and businesses take concrete steps to become greener.

Tirupati is a fully integrated graphite and graphene producer with primary mining and processing facilities in Madagascar and high-tech graphite processing in India.

The company’s shares are headed towards their recent all-time highs, and I think the shares are a bit extended. I would wait for a pullback before opening a new position.

Tirupati Graphite share price.

IG chart of Tirupati Graphite share price 09-06-2021

 

Tirupati Graphite (TGR) shares surged 14.36% to trade at 103.5p, rising from Tuesday’s closing price of 90.50p.

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