Global Offshore Services is locked in upper circuit for third consecutive day, up 5% at Rs 174 on BSE, extending its two-week long rally, after reporting a strong financial performance for the quarter ended December 31, 2013 (Q3FY14).
The company engaged in shipping business has posted 49% year-on-year (yoy) growth in consolidated net profit at Rs 14.32 crore for Q3FY14, on back of strong operational income. Total income from operations of the company grew 69% yoy at Rs 103 crore.
The stock is currently trading at its 52-week high, rallied 57% since announcement of Q3 results on January 30, compared to 1.9% fall in benchmark S&P BSE Sensex.
Meanwhile, last week, there was buzz that the promoters and key stake holder looking to exit the company by selling stake, and they are in talks with international shipping companies to sell the stake.
However, the company had clarified that the promoters have no plans to exit by selling their stake to any International Shipping Company; ad no negotiation for stake sale by the promoters has taken place.
The stock opened at Rs 172 on BSE and has seen a combined 32,946 shares changing hands so far. There are pending buy orders for around 91,000 shares on the BSE and NSE at 1140 hours.
The company engaged in shipping business has posted 49% year-on-year (yoy) growth in consolidated net profit at Rs 14.32 crore for Q3FY14, on back of strong operational income. Total income from operations of the company grew 69% yoy at Rs 103 crore.
The stock is currently trading at its 52-week high, rallied 57% since announcement of Q3 results on January 30, compared to 1.9% fall in benchmark S&P BSE Sensex.
Meanwhile, last week, there was buzz that the promoters and key stake holder looking to exit the company by selling stake, and they are in talks with international shipping companies to sell the stake.
However, the company had clarified that the promoters have no plans to exit by selling their stake to any International Shipping Company; ad no negotiation for stake sale by the promoters has taken place.
The stock opened at Rs 172 on BSE and has seen a combined 32,946 shares changing hands so far. There are pending buy orders for around 91,000 shares on the BSE and NSE at 1140 hours.
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