HEG tanks after poor Q1 results

The graphite electrodes maker's consolidated net profit plunged 68.6% to Rs 243.48 crore on 48.56% decline in net sales to Rs 816.51 crore in Q1 June 2019 over Q1 June 2018.

The stock declined 5.23% to Rs 954. The result was announced after trading hours on Wednesday, 14 August 2019.

Meanwhile, S&P BSE Sensex was down 160.23 points or 0.43% at 37,151.30.

On BSE, 51,000 shares were traded in HEG counter, compared to a 2-week average of 45,000 shares. The stock hit an intraday high of Rs 971.95 and an intraday low of Rs 929.20. It hit a 52-week high of Rs 4,950 on 16 October 2018 and a 52-week low of Rs 915.10 on 23 July 2019.

 

HEG is engaged in manufacturing of graphite electrodes, which are used by manufacturers of steel.

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