GNFC jumps after robust Q3 results

Gujarat Narmada Valley Fertilizers & Chemicals rose 4.54% to Rs 516.80 at 14:06 IST on BSE after net profit surged 241.29% to Rs 227.88 crore on 29.95% increase in total income to Rs 1624.43 crore in Q3 December 2017 over Q3 December 2016.

The result was announced during trading hours today, 22 January 2018.

Meanwhile, the S&P BSE Sensex was up 189.55 points, or 0.53% to 35,701.13.

On the BSE, 8.07 lakh shares were traded in the counter so far, compared with average daily volumes of 3.49 lakh shares in the past one quarter. The stock had hit a high of Rs 534 and a low of Rs 496 so far during the day. The stock hit a record high of Rs 548.50 on 24 October 2017. The stock hit a 52-week low of Rs 236.40 on 2 February 2017.

The stock had underperformed the market over the past 30 days till 19 January 2018, rising 2.83% compared with 5.20% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.67% as against Sensex's 9.64% rise. The scrip had outperformed the market in past one year, rising 95.74% as against Sensex's 31.36% rise.

The mid-cap company has equity capital of Rs 155.42 crore. Face value per share is Rs 10.

GNFC is one of the leading companies in the fertilizer industry in India.

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