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HEG Plunges 5%; BSE CAPITAL GOODS Index Down 0.5%
Mon, 21 Oct 12:14

HEG Plunges 5%; BSE CAPITAL GOODS Index Down 0.5%Image source: Kameleon007 /www.istockphoto.com

HEG share price has plunged 5% and is presently trading at Rs 472.7.

Meanwhile, the BSE CAPITAL GOODS index is at 71,437.4 (down 0.5%).

Among the top losers in the BSE CAPITAL GOODS index today are ABB (down 3.7%) and GMR Infra (down 2.7%).

Lakshmi Machine (up 1.9%) and TIMKEN INDIA (up 0.9%) are among the top gainers today.

Over the last one year, HEG has moved down from Rs 1,779.5 to Rs 472.7, registering a loss of Rs 1,306.9 (down 73.4%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,057.9 to 71,437.4, registering a gain of 48.6% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 131.7%), Siemens (up 111.9%) and Bharat Electronics (up 104.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,979.8 (down 0.3%).

The top losers among the BSE Sensex today are Kotak Bank (down 5.6%) and Indusind Bank (down 3.1%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 24,750.5 (down 0.4%). Tata Consumer Products and Kotak Bank are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,428.1 to 80,979.8, registering a gain of 14,551.7 points (up 21.9%).

HEG Financial Update...

HEG net profit fell 97.5% YoY to Rs 25 million for the quarter ended June 2024, compared to a profit of Rs 973 million a year ago. Net sales declined 14.9% to Rs 5,715 million during the period as against Rs 6,714 million in April-June 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 67.5.

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