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HEG Gains 8%; BSE CAPITAL GOODS Index Up 0.6%
Tue, 30 Jul 10:56

HEG Gains 8%; BSE CAPITAL GOODS Index Up 0.6%Image source: Chunumunu/www.istockphoto.com

HEG share price has zoomed 8% and is presently trading at Rs 2,263.9.

Meanwhile, the BSE CAPITAL GOODS index is at 75,820.0 (up 0.6%).

Among the top gainers in the BSE CAPITAL GOODS index today are Graphite India (up 4.6%) and Lakshmi Machine (up 1.6%).

Siemens (down 1.2%) and GRINDWELL NORTON (down 0.8%) are among the top losers today.

Over the last one year, HEG has moved up from Rs 1,689.9 to Rs 2,263.9, registering a gain of Rs 574.1 (up 34.0%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 43,132.9 to 75,820.0, registering a gain of 75.8% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 220.4%), HINDUSTAN AERO. (up 161.9%) and Bharat Electronics (up 155.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,572.1 (up 0.3%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 3.9%) and NTPC (up 3.8%). The most traded stocks in the BSE Sensex are Axis Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,910.9 (up 0.3%). BPCL and NTPC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,707.2 to 81,572.1, registering a gain of 14,864.9 points (up 22.3%).

HEG Financial Update...

HEG net profit fell 61.1% YoY to Rs 346 million for the quarter ended March 2024, compared to a profit of Rs 889 million a year ago. Net sales declined 11.3% to Rs 5,469 million during the period as against Rs 6,169 million in January-March 2023.

For the year ended March 2024, HEG reported 41.5% decrease in net profit to Rs 3,117 million compared to net profit of Rs 5,324 million during FY23. Revenue of the company fell 2.9% to Rs 23,949 million during FY24.

The current Price to earnings ratio of HEG, based on rolling 12 month earnings, stands at 38.0.

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