HEG jumps ahead of board meeting on share buyback

DALAL STREET SPIKES

HEG jumped by 13.29 per cent to Rs 271.55 ahead of its board meeting scheduled for July 31 to discuss the buy-back of shares. However, post-market hours, the company announced that the board had deferred the decision till the next meeting.

The stock made an intraday high of Rs 276.50 and a low of Rs 242. The counter witnessed volumes of 2,30,066 shares (more than six times its two-week average), with delivery volumes of about 52 per cent. The stock has recovered 56 per cent from its July 2 low of Rs 174.