Shares of HEG Limited soar over 4 per cent as it exits from ASM category on July 13!

Over three years the stock has delivered exceptional multibagger returns of more than 117 per cent.

In this optimistic market sentiment, the shares of HEG Limited surged 4.69 per cent. The scrip witnessed a spurt in volume by more than 1.82 times. The company's current market capitalization is Rs 6,232.21 crore.

HEG Ltd is a prominent Indian company engaged in the manufacturing and export of graphite electrodes. It holds the distinction of operating the largest integrated graphite electrodes plant in the world, located at a single site. HEG Ltd is a member of the LNJ Bhilwara Group, which is involved in various industries including IT-enabled services, power generation, and textiles.

On July 13, 2023, stakeholders of HEG Limited received positive news as the company's shares were removed from the ASM category.

What is ASM and how is it relevant? To answer this, the full form of ASM is "Additional Surveillance Measure" in the stock market.

ASM is a regulatory mechanism implemented by stock exchanges to monitor and regulate the trading activities of certain securities closely. It is designed to enhance market integrity, mitigate risks, and protect investors' interests.

The exchange activity in the BSE includes both short-term and long-term positions. In the short-term category.

On June 20, 2023, the company entered into a short-term ASM Stage I position, which remained in effect until July 13, 2023.

HEG Limited has experienced multiple instances of being subjected to the short-term category of Additional Surveillance Measures (ASM) in Stage I.

These occurrences include a short-term ASM Stage I position from February 17, 2021, to February 25, 2021. As well as two other short-term ASM Stage I positions from April 16, 2020, to April 24, 2020, and from March 26, 2020, to April 7, 2020, respectively.

In the long-term category, there was a single long-term ASM Stage I position from June 15, 2021, to November 26, 2021.

Furthermore, The Board of Directors meeting of the Company is scheduled for August 11, 2023, to approve the Un-audited Financial Results for the quarter ended June 30, 2023.

The stock has witnessed significant buying activity as it has surged more than 56 per cent in the last one year. Furthermore, over three years the stock has delivered exceptional multibagger returns of more than 117 per cent.

This Small-Cap multibagger stock has promising prospects to achieve success in the future.