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Gujarat Pipavav Port jumps on bargain hunting

Capital Market 

Pipavav Port rose 3.92% to Rs 142 at 10:19 on on bargain hunting after a recent slide.

Meanwhile, the S&P Sensex was up 2.97 points, or 0.01% to 31,106.46.

On the BSE, 1 lakh shares were traded in the counter so far, compared with average daily volumes of 1.89 lakh shares in the past one quarter. The stock had hit a high of Rs 142.15 and a low of Rs 137.10 so far during the day. The stock hit a 52-week high of Rs 197.35 on 9 September 2016. The stock hit a 52-week low of Rs 121.20 on 26 December 2016.

The stock had underperformed the market over the past one month till 13 June 2017, falling 13.89% compared with 2.58% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.84% as against Sensex's 5.80% rise. The scrip had also underperformed the market in past one year, falling 12.54% as against Sensex's 17.84% rise.

The mid-cap company has equity capital of Rs 483.44 crore. Face value per share is Rs 10.

Shares of Pipavav Port fell 5.33% in four trading sessions to settle at Rs 136.65 yesterday, 13 June 2017, from its close of Rs 144.35 on 7 June 2017.

Net profit of Pipavav Port rose 28.12% to Rs 66.20 on 5.85% rise in net sales to Rs 156.74 crore in Q4 March 2017 over Q4 March 2016.

Gujarat Pipavav Port is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group.

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

First Published: Wed, June 14 2017. 10:19 IST