HEG rallied 3.14% to Rs 2,132.15 after the company informed that its board has approved the enhancement of existing investment limit from Rs 200 crore to Rs 250 crore in one or more tranches.
This enhanced limit will be applicable for investments in the securities of listed Indian companies, overseas companies and body corporates.HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated graphite electrode plants in the world, processing sophisticated UHP (ultra high power) electrodes.
The company reported 83.4% drop in consolidated net profit to Rs 23.04 crore in Q1 FY25 as against Rs 139.12 crore posted in Q1 FY24. Revenue from operations fell 14.9% YoY to Rs 571.46 crore in Q1 FY25.
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