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Gujarat State Petronet jumps on bargain hunting

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Capital Market
Last Updated : May 28 2013 | 2:31 PM IST

Meanwhile, the S&P BSE Sensex was up 71.94 points, or 0.36%, to 20,102.71.

On BSE, 1.06 lakh shares were traded in the counter as against an average daily volume of 1.01 lakh shares in the past one quarter.

The stock hit a high of Rs 60.45 and a low of Rs 58.35 so far during the day. The stock had hit a 52-week high of Rs 84 on 5 October 2012. The stock had hit a 52-week low of Rs 57.60 on 27 May 2013.

The stock had underperformed the market over the past one month till 27 May 2013, sliding 14.83% compared with the Sensex's 3.86% rise. The scrip had also underperformed the market in past one quarter, falling 15.02% as against Sensex's 4.59% rise.

The mid-cap company has an equity capital of Rs 562.71 crore. Face value per share is Rs 10.

Gujarat State Petronet's net profit fell 5.7% to Rs 119 crore on 4.9% decline in net sales to Rs 260.58 crore in Q3 December 2012 over Q3 December 2011. The company will declare its year ended March 2013 results on 30 May 2013.

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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. GSPL is laying a gas grid to facilitate gas transmission from supply points to demand centres.

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First Published: May 28 2013 | 1:23 PM IST

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