Gujarat State Petronet rose 5.18% to Rs 102.60 at 10:23 IST on BSE after net profit rose 48.58% to Rs 169.47 crore on 26.75% increase in net sales to Rs 351.03 crore in Q2 September 2014 over Q2 September 2013.
The result was announced after market hours on Friday, 7 November 2014.
Meanwhile, the BSE Sensex was down 22.06 points, or 0.08%, to 27,846.57.
On BSE, so far 2.56 lakh shares were traded in the counter, compared with an average volume of 2.40 lakh shares in the past one quarter.
The stock hit a high of Rs 104 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 101 so far during the day. The stock hit a 52-week low of Rs 54.20 on 30 January 2014.
The stock had outperformed the market over the past one month till 7 November 2014, rising 10.16% compared with 6.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.23% as against Sensex's 8.91% rise.
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The mid-cap company has an equity capital of Rs 562.77 crore. Face value per share is Rs 10.
Gujarat State Petronet (GSPL) was set up to complement the efforts of Gujarat State Petroleum Corporation (GSPC). While GSPC harnesses and procures natural gas, GSPL is building the infrastructure that transmits the gas across Gujarat and ultimately allows last-mile linkage to the end-user.
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