HEG, Graphite India surge upto 12% after Vanguard Group buys stake in them

HEG zoomed 12% to Rs 3,515, also its new high, while Graphite India locked in upper circuit of 5% at Rs 814 on the NSE.

Shares of graphite electrode manufacturer HEG and Graphite India have surged up to 12% on the National Stock Exchange (NSE) in early morning trade on Monday after the investment banker Vanguard Group bought the stake in these companies through open market on Friday.

HEG has zoomed 12% to Rs 3,515, also its new high, while Graphite India locked in upper circuit of 5% at Rs 814 on the NSE.

On March 16, 2018, investment management company Vanguard Group acquired 1.36 million equity shares of Graphite India for an average price of Rs 776.06 per share. The transaction totalled Rs 1,055 million.

It also bought 473,000 shares of HEG at a price of Rs 3,152.52 per shares, valuing the transaction at Rs 1,491 million, the bulk deal data shows. CLICK HERE TO BULK DEALS DATA

Vanguard Group also purchased 931,000 shares in Capital First for an average price of Rs 648.65, valuing the transaction at Rs 604 million. In Eris Lifesciences, it purchased 1.01 million shares at a price of Rs 814.88 per share worth of Rs 825 million.

Capital Trust was up 2% at Rs 393, while Eris Lifesciences trading 1% higher at Rs 819 after hitting high of Rs 824 on the NSE in intra-day trade so far. At 09:26 am; the Nifty 50 index was down 0.17% at 10,178.

The names of sellers of the shares could not be ascertained immediately.