Shares of HEG fell over a percent intraday on December 31 after Life Insurance Corporation of India offloaded some stake in the company.
The stock corrected more than 70 percent in the last one year. It was quoting at Rs 1,079.95, down Rs 8.05, or 0.74 percent on the BSE at 1012 hours IST.
State-owned LIC sold 2.042 percent stake (representing over 7.88 lakh shares) in the company.
The insurance major held 8.896 percent shareholding in the company, which reduced to 6.854 percent as of December 30, 2019, said the carbon and graphite product manufacturing company in its BSE filing.
LIC sold this stake through open market transactions.
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