Gujarat Industries Power company gained 1.58% to Rs 141.30 at 13:50 IST on BSE after the company said that it has emerged as one of the successful bidders for the 75 megawatts solar power project in Gujarat.
The announcement was made during market hours today, 20 September 2017.Meanwhile, the S&P BSE Sensex was up 32.44 points, or 0.1% at 32,434.81. The S&P BSE Small-Cap index was up 32.85 points, or 0.19% at 16,926.52.
High volumes were witnessed on the counter. On the BSE, 1.49 lakh shares were traded on the counter so far as against the average daily volumes of 61,025 shares in the past one quarter. The stock had hit a high of Rs 147.40 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 139 so far during the day. The stock had hit a 52-week low of Rs 84.10 on 21 September 2016.
The stock has gained 8.15% in three sessions to its ruling price, from a close of Rs 130.65 on 15 September 2017.
The stock had outperformed the market over the past one month till 19 September 2017, gaining 14.58% compared with 2.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.4% as against Sensex's 3.48% rise. The scrip had also outperformed the market in past one year, gaining 58.79% as against Sensex's 13.16% rise.
The small-cap company has equity capital of Rs 151.25 crore. Face value per share is Rs 10.
Gujarat Industries Power company said that it has emerged as one of the successful bidders for the 75 megawatts (MW) solar power project in the e-reverse auction conducted by Gujarat Urja Vikas Nigam (GUVNL) on 19 September 2017, for 500 MW solar power projects, in Gujarat.
Gujarat Industries Power Company's net profit rose 14.5% to Rs 62.92 crore on 8.6% decrease in net sales to Rs 323.36 crore in Q1 June 2017 over Q1 June 2016.
Gujarat Industries Power Company is engaged in the business of electrical power generation.
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