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HEG Plunges 6%; BSE CAPITAL GOODS Index Up 0.4%
Wed, 14 Aug 9:19

HEG Plunges 6%; BSE CAPITAL GOODS Index Up 0.4%Image source: Ivcandy/www.istockphoto.com

HEG share price has plunged 6% and is presently trading at Rs 2,044.0.

Meanwhile, the BSE CAPITAL GOODS index is at 72,232.7 (up 0.4%).

Among the top losers in the BSE CAPITAL GOODS index today are TIMKEN INDIA (down 2.3%) and SKF India (down 1.3%).

AIA Engineering (up 2.0%) and V GUARD IND. (up 1.6%) are among the top gainers today.

Over the last one year, HEG has moved up from Rs 1,729.6 to Rs 2,044.0, registering a gain of Rs 314.4 (up 18.2%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 43,332.6 to 72,232.7, registering a gain of 66.7% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 188.1%), HINDUSTAN AERO. (up 142.8%) and Bharat Electronics (up 127.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,065.2 (up 0.1%).

The top gainers among the BSE Sensex today are Maruti Suzuki (up 1.1%) and NTPC (up 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,184.4 (up 0.2%). Hindalco and Cipla are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 79,065.2, registering a gain of 13,663.3 points (up 20.9%).

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 58.4.

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