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HEG tumbles over 20% in four sessions

HEG fell 5.16% to Rs 956.85 at 15:14 IST on BSE, extending recent losing streak.

Meanwhile, S&P BSE Sensex was down 259.66 points or 0.68% at 38,077.38.

On BSE, 1.58 lakh shares were traded in HEG counter, compared to a 2-week average of 53,000 shares. The stock had hit a high of Rs 1017.85 so far during the day. The stock had hit a low of Rs 921.6 so far during the day, which is also 52-week low for the counter. It hit a 52-week high of Rs 4950 on 16 October 2018.

Shares of HEG fell 20.18% in four trading sessions to its current market price of Rs 956.85 from a recent closing high of Rs 1198.8 on 16 July 2019.

The stock has fallen 28.97% in the past one month. It slumped 76.78% in the past one year.

Net profit of HEG declined 17.29% to Rs 524.42 crore on 4.19% rise in net sales to Rs 1346.65 crore in Q4 March 2019 over Q4 March 2018.

HEG is a leading manufacturer and exporter of graphite electrodes in India and operates world's largest single-site integrated graphite electrodes plant at Mandideep in Madhya Pradesh.

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