The Hindu Business Line : HEG gaining strength on bourses

HEG Ltd has been gaining on the bourses with pick-up in trading volumes. The LNG Bhilwara group company has gained close to nine per cent over a week. On Thursday, it closed at Rs 181.45 on the BSE, gaining about one per cent over the previous close. Trading volumes also improved to 58,970 shares against its two-week average of about 40,000 shares. According to market players, the stock has been gaining on the back its improved valuation for its holding in Bhilwara Energy. The latter is planning to raise Rs 105 crore through private equity placement to New York Life Investment Management and Wachovia Corporation. According to brokers, this has improved the valuation of Bhilwara Energy. HEG holds 39.13 per cent while another group company, RSWM, holds 26.41 per cent. With this, these companies’ valuation also gets enhanced, said market sources. RSWM has gained 5.5 per cent over a week. – K.S. Badri Narayanan

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