GNFC spurts after turnaround in Q2

Gujarat Narmada Valley Fertilizers & Chemicals surged 12.49% to Rs 71.15 at 13:24 IST on BSE after the company reported net profit of Rs 52.67 crore in Q2 September 2015 compared with net loss of Rs 30.37 crore in Q2 September 2014.

The result was announced after market hours yesterday, 3 November 2015.

Meanwhile, the S&P BSE Sensex was up 114.50 points or 0.43% at 26,705.09.

On BSE, so far 2.46 lakh shares were traded in the counter as against average daily volume of 26,592 shares in the past one quarter.

The stock hit a high of Rs 71.90 and a low of Rs 66.70 so far during the day. The stock had hit a 52-week high of Rs 94.90 on 23 January 2015. The stock had hit a 52-week low of Rs 50 on 25 August 2015.

The stock had outperformed the market over the past one month till 3 November 2015, surging 9.62% compared with Sensex's 1.41% rise. The scrip had also outperformed the market in past one quarter, sliding 0.39% as against Sensex's 5.66% fall.

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

Gujarat Narmada Valley Fertilizers & Chemicals' (GNFC) net sales declined 11% to Rs 1151.57 crore in Q2 September 2015 over Q2 September 2014.

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

Powered by Capital Market - Live News