HEG inches close to its high

HEG Ltd rose 8% to Rs.730, which is Rs.2 away from its 52-week high of Rs.732 hit on 8th Sept’17.

HEG Ltd is a leading graphite electrode manufacturer in India. FII  Jefferies has put out a report stating that it has initiated coverage on the stock.

It has given a ‘Buy’ rating and price target of Rs 1,050.

Every time news comes in that a FII is tracking a stock, that too with a ‘buy’ call, this is how the stock price always reacts. Guess people tend to follow what the FIIs buy/sell.