Shares of HEG appeared to have fallen nearly 64% on Monday, but the sharp drop was largely a price adjustment following the company’s demerger into two separately listed entities focused on graphite electrodes and advanced materials.
After closing at Rs 728.25 apiece on Friday, HEG shares opened around 64% lower at Rs 260 apiece on Monday as it adjusted to the demerger on the record date. The stock now trades excluding the value of the graphite electrodes business. The company currently has a market capitalisation of around Rs 5,095 crore.
