Gandhi Special Tubes gains after good Q3 result

Gandhi Special Tubes rose 1% to Rs 428 at 12:45 IST on BSE after net profit rose 22.34% to Rs 9.31 crore on 26.12% growth in net sales to Rs 28.10 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 6 February 2018.

Meanwhile, the S&P BSE Sensex was up 37.43 points, or 0.11% to 34,233.37. The S&P BSE Small-Cap index was up 411.36 points, or 2.37% to 17,803.43.

On the BSE, 4,159 shares were traded in the counter so far, compared with average daily volumes of 9,825 shares in the past one quarter. The stock had hit a high of Rs 428 and a low of Rs 423.75 so far during the day. The stock hit a record high of Rs 444.95 on 5 January 2018. The stock hit a 52-week low of Rs 280 on 11 August 2017.

The stock had underperformed the market over the past one month till 6 February 2018, falling 3.48% compared with 0.46% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 27.63% as against Sensex's 2.94% rise. The scrip also outperformed the market in past one year, gaining 32.6% as against Sensex's 20.68% rise.

The small-cap company has equity capital of Rs 7.35 crore. Face value per share is Rs 5.

Gandhi Special Tubes is a manufacturer of seamless and welded steel tubes, which are used in automotive, hydraulics, refrigeration and other engineering services.

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