HEG rises on getting nod for further investment in Bhilwara Infotechnology
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HEG is currently trading at Rs. 408.65, up by 2.95 points or 0.73% from its previous closing of Rs. 405.70 on the BSE.
The scrip opened at Rs. 396.00 and has touched a high and low of Rs. 415.00 and Rs. 396.00 respectively. So far 14842 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 548.92 on 22-May-2024 and a 52 week low of Rs. 310.61 on 28-Nov-2023.
Last one week high and low of the scrip stood at Rs. 454.55 and Rs. 396.00 respectively. The current market cap of the company is Rs. 7886.99 crore.
The promoters holding in the company stood at 55.78%, while Institutions and Non-Institutions held 19.71% and 24.50% respectively.
HEG has received approval for further investment in the Equity Shares of Bhilwara Infotechnology (BIL), an Associate Company of HEG, which will result in making BIL, a Wholly Owned Subsidiary (WOS) of HEG. The object of acquisition of the said company is to leverage the business of the company and entering into new ventures which will impact its revenue and profitability condition. The said acquisition is expected to be completed within 2 months. The Board of Directors of the company at its meeting held on November 13, 2024 has approved the same.
HEG is a leading manufacturer and exporter of graphite electrodes in India and operates world's largest single-site integrated graphite electrodes plant.
