NSE: HEGAM · 28 October 2026
- HEG Advanced Materials Ltd. (HEGAM) shares advanced by 6.01% today, trading near the upper end of the day's range between ₹214.32 and ₹232.78 after opening at ₹214.32.
- The boards of subsidiary companies Malana Power Company Limited and AD Hydro Power Limited approved the appointment of Riju Jhunjhunwala as Chairman and Additional Director effective November 3, 2026. Ravi Jhunjhunwala will transition to Managing Director of Malana Power while continuing on both boards to ensure continuity. Additionally, Om Prakash Ajmera was appointed Joint Managing Director and CEO for both entities for a five-year term commencing November 1, 2026.
- Trading volume was 4.00 times the 20-day average daily volume.
Why is HEG Advanced Materials share price rising on 28 October 2026?
HEG Advanced Materials Ltd. (HEGAM) shares advanced by 6.01% today, trading near the upper end of the day's range between ₹214.32 and ₹232.78 after opening at ₹214.32.
The broader Nifty index edged down by 0.22%, reflecting a slightly subdued market backdrop during the session. HEGAM's strong single-day upward momentum stands in contrast to the broader market trend, building upon positive return momentum over the past five trading days.
While no single company announcement was published directly on the trading day to mandate the move, recent corporate developments include the leadership realignment across its subsidiaries, where Riju Jhunjhunwala was appointed Chairman of Malana Power Company Limited and AD Hydro Power Limited effective November 3, 2026.
42.38 lakh shares traded by 28 October 2026 · 03:25 PM IST. This compares with a 20-day average daily volume of 10.60 lakh shares (4.00 times). The five-day average daily volume was 9.67 lakh shares. Separately, the NSE report for 27 October 2026 showed 6.28 lakh shares delivered, representing 50.26% of that day’s traded volume. The same report recorded 33,397 trades.
The 6.01% gain accompanied high participation, with volume surging to 4.0 times its 20-day average alongside a 50.26% delivery rate. While recent subsidiary leadership appointments and the dropping of legacy GST proceedings provide constructive fundamental context, the sharp move appears driven by heightened trading interest and short-term momentum.
Latest Company Developments
The boards of subsidiary companies Malana Power Company Limited and AD Hydro Power Limited approved the appointment of Riju Jhunjhunwala as Chairman and Additional Director effective November 3, 2026. Ravi Jhunjhunwala will transition to Managing Director of Malana Power while continuing on both boards to ensure continuity. Additionally, Om Prakash Ajmera was appointed Joint Managing Director and CEO for both entities for a five-year term commencing November 1, 2026.
Aligns the leadership structure of key clean energy subsidiaries directly with HEG Advanced Materials' overarching governance framework.
The company announced that the GST authority issued an order dropping proceedings under Section 74 of the MPGST and CGST Acts for the financial year 2020-21. The order relates to a previously notified show-cause notice that had proposed recovery of IGST refunds along with a penalty amounting to ₹282.34 crore.
Removes a major regulatory overhang and potential financial liability pertaining to historical tax periods.
The Registrar of Companies approved the change in name of the resulting company from HEG Graphite Limited to HEG Limited, with the effective date recorded as October 12, 2026. This administrative update follows the implementation of the composite scheme of arrangement.
Formalizes the operational branding identity for the resulting entity following corporate restructuring.
'Appointment/reappointment/change in designation of Directors by Malana Power Company Limited and AD Hydro Power Limited subsidiaries of the Company'.
'Intimation by Resulting Company (As per Composite Scheme of Arrangement) regarding dropping of proceedings by GST Authority for FY 2020-21'.
Ownership & Transaction Activity
Mutual Fund Holdings
Mutual funds held 4.74% on 30 September 2026. This compares with 4.27% on 8 September 2026, a change of +0.47 percentage points.
The filing reported 23 MF/UTI holders.
Historical Bulk / Block Deals
What to Watch Next
- Upcoming standalone and consolidated financial results scheduled for review on November 3, 2026.
- Implementation progress of the HEG Advanced Materials Employee Stock Option Plan 2026.
- Operational performance and execution timelines of recent orders secured by subsidiary Replus Engitech.
- Sustained delivery volumes and cash-market participation levels above the 20-day average.
More HEG Advanced Materials news and dated analysis →
Frequently Asked Questions
What is the latest HEG Advanced Materials company news?
The boards of subsidiary companies Malana Power Company Limited and AD Hydro Power Limited approved the appointment of Riju Jhunjhunwala as Chairman and Additional Director effective November 3, 2026. Ravi Jhunjhunwala will transition to Managing Director of Malana Power while continuing on both boards to ensure continuity. Additionally, Om Prakash Ajmera was appointed Joint Managing Director and CEO for both entities for a five-year term commencing November 1, 2026.
How strong was HEG Advanced Materials’s trading volume?
42.38 lakh shares traded, 4.00 times the 20-day average daily volume. The price and volume data are dated 28 October 2026 · 03:25 PM IST.
Do the mutual-fund figures show buying today?
They show holdings on 30 September 2026. Quarterly holdings do not identify purchases made on the article date.
Research & analysis: WittyTrades Research Desk
Reviewed by: Mohanish Sanghavi — SEBI Registered Research Analyst
Disclaimer: Investments in securities markets are subject to market risks. Registration with SEBI and NISM certification do not guarantee performance or returns. This article is for information and education, not personalised investment advice or a recommendation to buy, sell or hold.