 "HEG erases three-week loss in two days by surging 37% ahead of board meet")
HEG has surged an over 10% to Rs 3,045 on BSE in intra-day trade, extending its Wednesday’s 20% rally ahead of board meeting today to consider either the interim dividend or proposal for buy back of equity shares of the Company.
The stock of the leading graphite electrode manufacturer has rallied 37% in past two trading sessions from Rs 2,215 on BSE. The BSE & NSE have revised the circuit filter of the stock from 5% to 20% with effect from Wednesday, February 7, 2018.
HEG erased its entire 30% decline recorded during three weeks in past two days. The stock hit an all-time high of Rs 3,147 on January 16, 2018 in intra-day trade.
“The board of directors of the Company is scheduled to be held on Thursday, the 8th day of February, 2018 to consider inter alia either the payment of interim dividend, if any, to the equity shareholders of the Company for the financial year ending 31st March, 2018 or proposal for the buyback of equity shares of the Company,” HEG said in a BSE filing on February 5, 2018.
The company has fixed Monday, February 19, 2018 as the record date for the purpose of determining the entitlement of the shareholders for the payment of interim dividend.
With reference to increase in volume, HEG has clarified to BSE that apart from the information on various matters already shared with the Stock Exchanges from time to time, there is no further information/announcement which are required to be shared with the Stock Exchanges and that the Company is unaware of the reasons for the increase in volume.
Further, please refer to our letter dated 5th February, 2018 intimating about the matters to be considered in the ensuring Board Meeting scheduled to be held on today at 3.00 PM. The outcome of the said meeting will be intimated to the exchanges within the prescribed time, it added.
At 12:08 PM; the stock was trading 13% higher at Rs 3,011 on BSE, as compared to 1% gain in the S&P BSE Sensex. The trading volumes on the counter jumped more than two-fold with a combined 1.37 million shares changed hands on BSE and NSE so far.
The stock of the leading graphite electrode manufacturer has rallied 37% in past two trading sessions from Rs 2,215 on BSE. The BSE & NSE have revised the circuit filter of the stock from 5% to 20% with effect from Wednesday, February 7, 2018.
HEG erased its entire 30% decline recorded during three weeks in past two days. The stock hit an all-time high of Rs 3,147 on January 16, 2018 in intra-day trade.
“The board of directors of the Company is scheduled to be held on Thursday, the 8th day of February, 2018 to consider inter alia either the payment of interim dividend, if any, to the equity shareholders of the Company for the financial year ending 31st March, 2018 or proposal for the buyback of equity shares of the Company,” HEG said in a BSE filing on February 5, 2018.
The company has fixed Monday, February 19, 2018 as the record date for the purpose of determining the entitlement of the shareholders for the payment of interim dividend.
With reference to increase in volume, HEG has clarified to BSE that apart from the information on various matters already shared with the Stock Exchanges from time to time, there is no further information/announcement which are required to be shared with the Stock Exchanges and that the Company is unaware of the reasons for the increase in volume.
Further, please refer to our letter dated 5th February, 2018 intimating about the matters to be considered in the ensuring Board Meeting scheduled to be held on today at 3.00 PM. The outcome of the said meeting will be intimated to the exchanges within the prescribed time, it added.
At 12:08 PM; the stock was trading 13% higher at Rs 3,011 on BSE, as compared to 1% gain in the S&P BSE Sensex. The trading volumes on the counter jumped more than two-fold with a combined 1.37 million shares changed hands on BSE and NSE so far.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%