Goa Carbon inches up after resuming operations at Bilaspur unit

Goa Carbon rose 0.77% to Rs 65.50 at 13:42 IST on BSE after the company said that it has resumed operations at its Bilaspur unit in Chattisgarh from 26 September 2015.

The company made the announcement after market hours yesterday, 28 September 2015.

Meanwhile, the S&P BSE Sensex was up 292.45 points or 1.14% at 25,909.29.

On BSE, so far 2,895 shares were traded in the counter as against average daily volume of 13,054 shares in the past one quarter.

The stock hit a high of Rs 66 and a low of Rs 63.25 so far during the day. The stock had hit a 52-week high of Rs 99 on 13 October 2014. The stock had hit a 52-week low of Rs 63.25 on 10 September 2015.

The stock had underperformed the market over the past one month till 28 September 2015, sliding 6.94% compared with Sensex's 2.94% fall. The scrip had also underperformed the market in past one quarter, declining 21.07% as against Sensex's 7.89% fall.

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

It may be recalled that Goa Carbon had last month announced temporary shut down of the Bilaspur unit. The company said that there would be no financial impact due to the temporary shutdown of the unit on account of sufficient inventory of finished material.

Goa Carbon's net profit declined 89.4% to Rs 0.38 crore on 15% growth in net sales to Rs 79.90 crore in Q1 June 2015 over Q1 June 2014.

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

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