India's HEG falls as higher costs hit graphite electrode maker's bottomline

HEG Advanced Materials

21/05/2019 09:16

** Shares of HEG Ltd  HEGL.NS  fall as much as 5.4% to 1,623
rupees - sharpest daily drop in three weeks
    ** March-qtr profit fell 17.3% to 5.24 bln rupees ($75.21
mln), hurt by a 131% jump in cost of materials consumed, the
graphite electrode maker said Monday  urn:newsml:reuters.com:*:nFWN22W0HG
    ** About 387,000 shares change hands vs the 30-day avg of
320,536 shares
    ** Stock down ~54% this year as of last close
    
($1 = 69.6700 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))