Don’t miss the action in this graphite electrodes company’s stock as Board fixed record date for 5:1 stock split
The stock is up by 66 per cent from its 52-week low of Rs 1,466.85 per share.
HEG Ltd informed that the Board of Directors of the company proposes to subdivide each fully paid-up equity share with a face value of Rs 10 into five fully paid-up equity shares with a face value of Rs 2 each (Ratio 5:1). The Board fixed the record date for stock split as Friday, October 18, 2024.
HEG Ltd is a leading Indian manufacturer and exporter of graphite electrodes, boasting the world's largest single-site integrated plant for this specialized product. As a cornerstone of the LNJ Bhilwara Group, which also operates in IT services, power generation, and textiles, HEG specializes in producing various grades of graphite electrodes, including ultra-high power, high power, and regular power options. The company operates in a high-tech industry with significant entry barriers, a market it successfully entered in 1976. HEG's dominance is underscored by its status as the world's largest single-site graphite electrode plant.
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The company has a market cap of over Rs 9,000 crore and has been maintaining a healthy dividend payout of 31.5 per cent. The shares of the company have a PE of 26x, an ROE of 8 per cent and an ROCE of 9 per cent.
On Wednesday, shares of HEG Ltd gained over 10 per cent to an intraday high of Rs 2,544.05 per share from its previous closing of Rs 2,309.75. At the closing bell, shares of the company were trading at Rs 2,433.55 per share, up 5.36 per cent with a spurt in volume by more than 6 times on BSE. The stock is up by 66 per cent from its 52-week low of Rs 1,466.85 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.