Gujarat Gas was up 0.59% to Rs 846.80 at 12:53 IST on BSE on reports that a foreign brokerage has maintained buy rating on the stock for a target of Rs 1,141.
Meanwhile, the S&P BSE Sensex was up 155.08 points or 0.52% at 30,098.32.
On the BSE, 4,978 shares were traded on the counter so far as against the average daily volumes of 24,799 shares in the past one quarter. The stock had hit a high of Rs 852.55 and a low of Rs 840.10 so far during the day.
The stock had hit a record high of Rs 880 on 18 April 2017 and a 52-week low of Rs 480 on 23 May 2016. It had outperformed the market over the past one month till 25 April 2017, surging 14.56% compared with the Sensex's 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 51.88% as against the Sensex's 8.07% rise.
The large-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.
Gujarat Gas' net profit rose 31.5% to Rs 42.29 crore on 17% decline in net sales to Rs 1220.31 crore in Q3 December 2016 over Q3 December 2015.
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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