Gokaldas Exports extends rally after strong Q4 result

Gokaldas Exports jumped 8.33% to Rs 110.50 at 15:06 IST on BSE, with the stock extending recent rally triggered by the company's strong Q4 result.

Meanwhile, the BSE Sensex was up 164.11 points, or 0.61%, to 26,878.04

On BSE, so far 10.69 lakh shares were traded in the counter, compared with an average volume of 92,225 shares in the past one quarter. The stock hit a high of Rs 111.80 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 100.40 so far during the day. The stock hit a 52-week low of Rs 40.45 on 12 February 2016. The stock had outperformed the market over the past one month till 1 June 2016, rising 36% compared with 4.32% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 71.72% as against Sensex's 12.34% gains.

The small-cap company has an equity capital of Rs 17.39 crore. Face value per share is Rs 5.

Strong Q4 result triggered recent rally in Gokaldas Exports. The stock jumped by maximum permissible daily limit of 20% to settle at Rs 86.15 on 31 May 2016. The stock gained 18.4% to settle at Rs 102 on 1 June 2016. Gokaldas Exports' net profit rose 17% to Rs 40.77 crore on 23.2% rise in net sales to Rs 292.52 crore in Q4 March 2016 over Q4 March 2015. Net profit after extra-ordinary items jumped 31261.5% to Rs 40.77 crore in Q4 March 2016 over Q4 March 2015. Net profit in Q4 March 2015 was boosted by an exceptional item of Rs 34.71 crore representing profit from sale of land and buildings. The result was announced after market hours on 30 May 2016.

Gokaldas Exports manufactures and exports readymade garments.

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