Gujarat Gas rose 2.79% to Rs 542.65 at 11:28 IST on BSE after net profit jumped 158.84% to Rs 71.83 crore on 20.75% decline in total income from operations to Rs 1273.59 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours on Friday, 18 November 2016.Meanwhile, the S&P BSE Sensex was down 314.13 points or 1.2% at 25,836.11.
On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 25,000 shares in the past two weeks. The stock hit a high of Rs 560.90 and a low of Rs 537.65 so far during the day. The stock had hit a record high of Rs 690.35 on 19 August 2016. The stock had hit a 52-week low of Rs 477 on 1 March 2016. The stock underperformed the market over the past one month till 18 November 2016, sliding 10.62% compared with 6.78% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 18.99% as against Sensex's 7.02% fall.
The mid-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.
Gujarat Gas is a city gas distribution company with presence spread across 19 districts in Gujarat and the Union Territory of Dadra Nagar Haveli and the Thane geographical area which includes Palghar district of Maharashtra.
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