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HEG bounces back after 7-day decline

Capital Market 

HEG rose 6.91% to Rs 1,347.45 at 11:52 IST on BSE on bargain hunting after a recent slide.

Meanwhile, S&P BSE Sensex was down 214.27 points or 0.54% at 39,387.36.

On BSE, 49,000 shares were traded in HEG counter, compared to a 2-week average of 38,000 shares. The share price hit an intraday high of Rs 1,365.90 and an intraday low of Rs 1250.10. It hit a 52-week high of Rs 4,950 on 16 October 2018 and a 52-week low of Rs 1,221.95 on 20 June 2019.

Shares of HEG slumped 22.31% in the past seven trading sessions to settle at Rs 1259.90 yesterday, 20 June 2019, from its close of Rs 1621.65 on 11 June 2019.

HEG's net profit fell 17.3% to Rs 524.42 crore on a 4.2% rise in net sales to Rs 1,346.65 crore in Q4 March 2019 over Q4 March 2018.

HEG is a graphite electrode manufacturer.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 21 2019. 12:02 IST