“We believe any stock run-up attributed to this news flow should come off,” said brokerage Emkay Global’s analysts Anand Dama, Kunaal N, and Marazbaan Dastur in a client note. “This raised hopes for the replacement… with a pedigreed external candidate from a large bank as MD.”
Did HEG shares really crash 64% in one day? Here’s how the demerger math works
HEG shares opened nearly 64% lower on Monday as the stock adjusted for the company’s demerger, which split its businesses into two separately listed entities.