GOCL Corporation gains on order win

GOCL Corporation surged 4.45% to Rs 293.45 after the company said its subsidiary received a Rs 375 crore order fom Coal India for supplying bulk explosives.

GOCL Corporation said that its wholly owned subsidiary, IDL Explosives, has received order worth Rs 375 crore from Coal India for supply of bulk explosives to be supplied over a period of two years i.e. by October 2021. The announcement was made after market hours on Friday, 11 October 2019.

Last month, the company declared a special interim dividend of Rs 2 per equity share. The record date for payment of the special interim dividend is on Tuesday, 15 October 2019, and it would be paid between 18 October and 26 October 2019.

Meanwhile, the S&P BSE Sensex was up 207 points or 0.54% to 38,333.63.

On the BSE, 238 shares were traded in the GOCL Corporation counter so far compared with average daily volumes of 899 shares in the past two weeks. The stock hit a high of Rs 295 and a low of Rs 280.45 so far during the day.

The stock hit a 52-week high of Rs 359.55 on 04 Apr 2019. The stock hit a 52-week low of Rs 219.05 on 23 Jul 2019.

On a consolidated basis, GOCL Corporation's net profit rose fell 23.6% to Rs 5.86 crore on a 0.03% increase in net sales to Rs 133.13 crore in Q1 June 2019 over Q1 June 2018.

GOCL Corporation, formerly Gulf Oil Corporation, is engaged in the provision of explosive accessories (detonators) (for mining and industrial use); mining and infrastructure, and realty. The company's segments include energetics, mining and infrastructure contracts, realty, lubricating oils and others.

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