Goa Carbon gains after commencement of operations at a plant

Goa Carbon rose 1.37% to Rs 88.60 at 14:45 IST on BSE after the company said it has commenced operations at its Goa plant from 28 December 2014.

The announcement was made during market hours today, 29 December 2014.

Meanwhile, the S&P BSE Sensex was up 182.38 points or 0.67% at 27,424.16.

On BSE, so far 2.71 lakh shares were traded in the counter as against average daily volume of 32,108 shares in the past one quarter.

The stock hit a high of Rs 92.90 and a low of Rs 84.30 so far during the day. The stock had hit a 52-week high of Rs 111.50 on 7 July 2014. The stock had hit a 52-week low of Rs 59 on 17 February 2014.

The stock had outperformed the market over the past one month till 26 December 2014, advancing 2.52% compared with Sensex's 4.03% fall. The scrip had, however, underperformed the market in past one quarter, sliding 0.74% as against Sensex's 2.31% rise.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Earlier, Goa Carbon had on 9 May 2014 intimated regarding temporary shut-down of its Goa plant on account of non-availability of suitable raw material.

Goa Carbon reported a net loss of Rs 0.85 crore in Q2 September 2014 compared with net profit of Rs 1.19 crore in Q2 September 2013. Net sales declined 57.2% to Rs 39.81 crore in Q2 September 2014 over Q2 September 2013.

Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

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