1:5 Stock Split Declared: HEG Ltd Shares Slip Over 8% After Weak Q1 Results

Small cap company HEG Ltd shares today witnessed sharp decline of over 8% on BSE after the company reported weak Q1 results on August 13. Current market price of HEG shares on BSE is Rs 1994.75 per share. HEG shares recorded a correction of 10.10% in last 2-weeks span. The company on August 13, 2024 approved stock split in the ratio of 1:5 with record date yet to be declared.

The company's market capitalisation also slipped today to 7698.84 crore from 8,365.19 crore (as on August 13, 2024). HEG shares witnessed surge of 22% in last 6-months. Check key details below:

HEG Ltd Approves Stock Split: According to the BSE filing of HEG Ltd issued as on August 13, 2024, "sub-division/ split of each equity share of face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 5 (Five) equity shares of face value of Rs. 2 /- (Rupee Two only) each, fully paid-up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the Company to be sought through Postal Ballot. The Record Date for sub-division/ split of existing equity shares will be intimated in due course."

HEG Ltd Quarterly Results: HEG announced its standalone net profit for the quarter ended June 30, 2024 at Rs 2.58 crore as compared to Rs 97.56 crore announced in the corresponding quarter of last year. The company for the quarter ended June 2024 declared its standalone revenue from operations at Rs 571 crore as against Rs 671 crore announced in the corresponding quarter of last year. Its total standalone expenses for the June 2024 quarter announced at Rs 589 crore from Rs 567 crore declared in the similar quarter of last year. Total standalone income of HEG Ltd for the quarter ended June 30, 2024 declared 592 crore as against Rs 698 crore declared in the corresponding quarter of last year.

HEG Ltd Shares Performance: HEG shares slipped 16% in last 3-months, soared 15% in last 1-year, zoomed 56% in last 2-years and declined again by 14% in last 3-years. In last 5-years, HEG shares offered return of 98%. The 52-week high price of HEG shares on BSE is Rs 2744.60 per share (as on 22/05/2024) and 52-week low price is Rs 1466.85 per share (as on 26/10/2023), respectively.

About: HEG Ltd, a premier company of the LNJ Bhilwara group, is today India's leading graphite electrode manufacturer. It has one of the largest integrated Graphite Electrode plants in the world, processing sophisticated UHP (Ultra High Power) Electrodes, according to its official website.

Disclaimer: The stock highlights the Q1 results, stock split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.