GIPCO advances after commissioning solar power projects

Gujarat Industries Power Company rose 1.07% to Rs 132.05 at 11:05 IST on BSE after the company said that it has successfully commissioned Solar Power Projects at Gujarat Solar Park, Charanka, District Patan.

The announcement was made on Saturday, 16 September 2017.

Meanwhile, the S&P BSE Sensex was up 217.58 points, or 0.67% at 32,490.19. The S&P BSE Small-Cap index was up 171.68 points, or 1.03% at 16,859.44.

On the BSE, 6,653 shares were traded on the counter so far as against the average daily volumes of 60,202 shares in the past one quarter. The stock had hit a high of Rs 135 and a low of Rs 131.55 so far during the day. The stock had hit a 52-week high of Rs 142.10 on 12 July 2017. The stock had hit a 52-week low of Rs 84.10 on 21 September 2016.

The stock had outperformed the market over the past one month till 15 September 2017, gaining 6.65% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 25.44% as against Sensex's 3.85% gains. The stock had also outperformed the market over the past one year, surging 48.97% compared with 13.58% rise in the Sensex.

The small-cap company has equity capital of Rs 151.25 crore. Face value per share is Rs 10.

Gujarat Industries Power Company said that it has successfully commissioned 80 MW (2 x 40 MW) PV Solar Power Projects at Gujarat Solar Park, Charanka, District Patan under National Solar Mission (NSM), Phase- II, Batch - IV, Tranche -I, in phased manner on 14 September 2017.

Gujarat Industries Power Company's net profit rose 14.46% to Rs 62.92 crore on 8.65% decrease in net sales to Rs 323.36 crore in Q1 June 2017 over Q1 June 2016.

Gujarat Industries Power Company is engaged in the business of electrical power generation.

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