HEG surges 9% on fixing October 18 as record date for 10:2 stock split

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HEG surges 9% on fixing October 18 as record date for 10:2 stock split - Business Standard

Quick Summary:

On September 23, HEG's board approved the sub-division of equity shares from existing 1 (one) equity share having face value of Rs 10 each, into 5 equity shares having face value of Re 2 each, fully paid-up.

In the past two trading days, the stock of the graphite electrode manufacturer has rallied 12 per cent.

This anticipated growth presents an excellent opportunity for our business, as we expect a substantial increase in demand for graphite electrodes," HEG said in its FY24 annual report.