Gujarat Gas Company lost 1.69% to Rs 264.85 at 11:12 IST on BSE, with the stock sliding on profit booking after recent rally.
Meanwhile, the S&P BSE Sensex was up 267.65 points or 1.23% at 22,022.97.
On BSE, so far 5,807 shares were traded in the counter as against average daily volume of 9,983 shares in the past one quarter.
The stock hit a high of Rs 273.15 and a low of Rs 263 so far during the day. The stock had hit a 52-week low of Rs 159 on 7 August 2013. The stock had hit a 52-week high of Rs 305.80 on 19 November 2013.
The stock had outperformed the market over the past one month till 22 March 2014, advancing 20.94% compared with Sensex's 5.09% rise. The scrip had, however, underperformed the market in past one quarter, gaining 1.68% as against Sensex's 3.2% rise.
The mid-cap company has equity capital of Rs 25.65 crore. Face value per share is Rs 2.
Shares of Gujarat Gas Company (GGCL) had rallied 15.05% in six trading sessions to settle at Rs 269.40 on Saturday, 22 March 2014, from a recent low of Rs 234.15 on 13 March 2014. A special live trading session was held on Saturday, 22 March 2014, as the National Stock Exchange (NSE) was testing its software.
GGCL after market hours on Friday, 21 March 2014, said it has executed an amendment agreement with GSPC for purchase of additional 0.2 mmscmd of regassified liquefied natural gas (RLNG) on Friday, 21 March 2014, for the period 1 April 2015 up to 1 July 2025. With this execution GGCL secures 0.85 mmscmd of long term RLNG for serving demand in its operating area, the company said.
On a consolidated basis, Gujarat Gas Company's net profit rose 29.3% to Rs 90.65 crore on 2.4% rise in net sales to Rs 774.92 crore in Q4 December 2013 over Q4 December 2012.
Gujarat Gas Company, a subsidiary of GSPC Distribution Networks (GDNL), currently distributes approximately 2.8 million metric standard cubic meter per day (mmscmd) of natural gas.
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