GPPL advances after bulk deal

Gujarat Pipavav Port gained 3.77% to Rs 154.10 at 10:41 IST on BSE after a bulk deal of 5.01 lakh shares was executed on the scrip at Rs 150.05 per share at 09:24 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 94.82 points, or 0.28%, to 33,682.90. The S&P BSE Mid-Cap index was up 88.56 points, or 0.53%, to 16,924.74.

Bulk deal boosted volume in the Gujarat Pipavav Port (GPPL) scrip. On BSE, so far 6.53 lakh shares were traded in the counter, compared with average daily volume of 2.01 lakh shares in the past one quarter. The stock hit a high of Rs 156.25 and a low of Rs 149.80 so far during the day. The stock hit a 52-week high of Rs 179 on 5 April 2017. The stock hit a 52-week low of Rs 121.20 on 26 December 2016.

The stock had underperformed the market over the past 30 days till 23 November 2017, rising 5.73% compared with 1.65% rise in the Sensex. The scrip had outperformed the market in past one quarter, gaining 14.23% as against Sensex's 6.30% rise. The scrip, however, underperformed the market in past one year, advancing 4.03% as against Sensex's 29.88% rise.

The mid-cap company has an equity capital of Rs 483.44 crore. Face value per share is Rs 10.

GPPL's net profit fell 25.65% to Rs 44.18 crore on 11.91% fall in net sales to Rs 151.67 crore in Q2 September 2017 over Q2 September 2016.

GPPL is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group. APM Terminals is one of the largest container terminal operators in the world and offers the global shipping community an integrated Global Terminal Network of 56 ports and 154 inland facilities in 63 countries.

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