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GP Petroleums slips on profit taking

Capital Market 

GP Petroleums fell 2.84% to Rs 97.50 at 15:12 on BSE, with the stock slipping on profit taking after recent rally.

Meanwhile, the S&P Sensex was down 12.66 points or 0.04% at 32,024.72. The S&P Small-Cap index declined 56.85 points or 0.36% at 15,906.72.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 32,609 shares in the past one quarter. The stock had hit a high of Rs 101.90 and a low of Rs 96.85 so far during the day. The stock had hit a record high of Rs 103.60 on 21 April 2017 and a 52-week low of Rs 55 on 2 August 2016.

The stock had outperformed the market over the past one month till 13 July 2017, surging 12.44% compared with the Sensex's 3% rise. The stock had, however, underperformed the market over the past one quarter, gaining 8.72% as against the Sensex's 8.74% rise. The scrip had also outperformed the market over the past one year, jumping 69.51% as against the Sensex's 15.18% rise.

The small-cap company has equity capital of Rs 25.49 crore. Face value per share is Rs 5.

Shares of GP Petroleums had surged 10.21% in the preceding three trading sessions to settle at Rs 100.35 yesterday, 13 July 2017, from its closing of Rs 91.05 on 10 July 2017.

GP Petroleums' net profit rose 4.5% to Rs 5.79 crore on 16.4% decline in net sales to Rs 127.91 crore in Q4 March 2017 over Q4 March 2016.

GP Petroleums is engaged in the production of lubricating oils, greases, and other products from crude oil. The company's segments are Lubricants and Trading.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 15:12 IST