Goa Carbon hits record high after strong Q1 earnings

Goa Carbon rose 3.54% to Rs 377.75 at 14:35 IST on BSE after net profit spurted 591.56% to Rs 5.74 crore on 22.93% increase in revenue from operations to Rs 89.27 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 13 July 2017.

Meanwhile, the S&P BSE Sensex was up 236.08 points, or 0.74% at 32,040.90. The S&P BSE Small-Cap index was up 62.74 points, or 0.39% at 15,959.75.

High volumes were witnessed on the counter. On the BSE, 5.14 lakh shares were traded on the counter so far as against the average daily volumes of 1.90 lakh shares in the past one quarter. The stock had hit a high of Rs 383 so far during the day, which is also its record high. The stock hit a low of Rs 368.25 so far during the day. The stock had hit a 52-week low of Rs 85.10 on 21 November 2016.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 133.06% compared with the Sensex's 2.28% rise. The scrip had also outperformed the market over the past one quarter gaining 142.51% as against the Sensex's 7.29% rise. The scrip had also outperformed the market over the past one year advancing 263.4% as against the Sensex's 14.37% rise.

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

Shares of Goa Carbon had witnessed a pre-result rally. The stock had surged 23.74% in three trading sessions to settle at Rs 364.85 yesterday, 12 July 2017, from a close of Rs 294.85 on 7 July 2017.

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

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