HEG shares hit 52-week low as FIIs reduce stake; tank 51% in 2019

The stock hit a 52-week low of Rs 1,839, down 5 per cent on Tuesday. It has fallen 9 per cent in the past two days on the BSE.

Shares of HEG hit a 52-week low of Rs 1,839, down 5 per cent on Tuesday as institutional investors reduced their stake in the company in the March quarter. The stock has fallen 9 per cent in past two days.

Institutional investors' stake in the company has declined by more than 3 percentage points at 15.29 per cent in January-March quarter, the graphite electrode manufacturer said in a statement on Thursday. They held 18.57 per cent stake in HEG at the end of December 2018 quarter. 

According to shareholding pattern filed by HEG, foreign institutional investors (FIIs) reduced their