HEG powers ahead on buyback buzz

DALAL STREET SPIKES

Graphite electrodes maker, HEG jumped 10.89 per cent to close at Rs 264.15 after the company said its board will meet on August 19 to reconsider a buyback proposal. The company had announced a buyback on July 21, but deferred the plans as it needed more information on trading of its equity shares.

The counter witnessed volumes of 2.38 lakh shares, which is about five times its two-week average. The stock hit an intraday high of Rs 276.70 and a low of Rs 239. It made a 52-week high of Rs 609 on January 1 and a 52-week low of Rs 174 on July 2.