HEG declines on profit booking

HEG lost 2.95% to Rs 668 at 11:33 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 130.06 points, or 0.41% at 31,860.55. The S&P BSE Small-Cap index was up 150.83 points, or 0.94% at 16,143.15.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 1.03 lakh shares in the past one quarter. The stock had hit a high of Rs 694 and a low of Rs 663.55 so far during the day. The stock had hit a record high of Rs 704 on 31 August 2017 and a 52-week low of Rs 144.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 31 August 2017, advancing 38.94% compared with the Sensex's 2.41% fall. The scrip had also outperformed the market over the past one quarter gaining 146.22% as against the Sensex's 1.88% rise. The scrip had also outperformed the market over the past one year advancing 287.77% as against the Sensex's 11.52% rise.

The small-cap company has equity capital of Rs 39.96 crore. Face value per share is Rs 10.

Shares HEG had rallied 45.71% in the preceding six trading sessions to settle at Rs 688.30 yesterday, 31 August 2017, from its close of Rs 472.40 on 22 August 2017.

HEG reported net loss of Rs 8.43 crore in Q1 June 2017, compared with net loss of Rs 28.97 crore in Q1 June 2016. Net sales rose 23.6% to Rs 205.36 crore in Q1 June 2017 over Q1 June 2016.

HEG is the leading manufacturer and exporter of graphite electrodes in India.

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