Gujarat State Petronet surged 5.04% to Rs 57.30 at 14:39 IST on BSE after net profit rose 1.1% to Rs 126.27 crore on 10.6% growth in net sales to Rs 296.06 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced after market hours on Tuesday, 13 August 2013.
Meanwhile, the S&P BSE Sensex was up 71.46 points or 0.37% at 19,301.30.
On BSE, 81,000 shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter.
The stock hit a high of Rs 57.55 and a low of Rs 54.95 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 46.90 on 31 July 2013.
The stock had underperformed the market over the past one month till 13 August 2013, sliding 6.11% compared with the Sensex's 3.65% fall. The scrip had also underperformed the market in past one quarter, declining 13.34% as against Sensex's 2.35% fall.
The mid-cap company has equity capital of Rs 562.72 crore. Face value per share is Rs 10.
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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