HEG Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange'.

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HEG · price

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Price reactionminutes from the announcement price · days from the prior close

+7.0%Reaction day

₹532.50

prior close

₹551.35

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-0.9%+7.9% vs market

Electrodes & Refractories peers, median of 10sector+0.2%+6.8% vs sector

On the reaction day the stock moved 7.9 pts more than Nifty Smallcap 250 and 6.8 pts more than its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+3.9

10m

+4.6

15m

+4.0

30m

+6.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+7.0-0.9+7.9+0.2+6.8

Next day

-0.1-2.5+2.4-2.3+2.1

-0.2-1.6+1.4-0.0-0.2

-0.9-1.9+1.0+0.5-1.3

-1.8-3.1+1.3-0.8-0.9

-2.2-3.2+1.0-2.5+0.3

-5.1-4.0-1.2-3.3-1.8

15d

-8.7-1.4-7.3-2.1-6.6

-10.2-3.3-6.9-3.9-6.3

-4.8-3.5-1.3-0.8-4.0

+10.6+0.1+10.5-0.3+11.0

UpDownMarket · Nifty Smallcap 250Sector · Electrodes & Refractories peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

HEG Limited informed the exchanges about a fine of Rs. 1,01,480 (including GST) levied by both NSE and BSE for non-compliance with SEBI's Listing Regulations regarding the appointment of Dr. Kamal Gupta (aged 75+) as a Non-Executive Non-Independent Director. The company had filed a waiver application with NSE on March 20, 2025, which was rejected on June 30, 2025. The fine was paid on July 1, 2025. The Board stated that the appointment was made in good faith, a special resolution was passed by shareholders for the appointment, and the company decided not to pursue further litigation.

Likely market impact

This is a minor regulatory penalty for a procedural non-compliance and has no material financial impact on the company. The fine amount is negligible compared to HEG's overall scale, and the board's clarification should reassure shareholders that this was a compliance interpretation issue rather than governance failure.