GPPL advances after large bulk deal

Gujarat Pipavav Port rose 2.08% to Rs 181.65 at 14:42 IST on BSE after a bulk deal of 12.86 lakh shares was executed on the scrip at Rs 181.70 per share at 10:14 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 18.09 points, or 0.06%, to 28,434.08

Bulk deal boosted volume in the Gujarat Pipavav Port (GPPL) scrip. On BSE, so far 13.31 lakh shares were traded in the counter, compared with average daily volume of 1.13 lakh shares in the past one quarter. The stock hit a high of Rs 182.50 and a low of Rs 178 so far during the day. The stock hit a 52-week high of Rs 212.50 on 9 October 2015. The stock hit a 52-week low of Rs 136.60 on 30 December 2015. The stock had outperformed the market over the past 30 days till 31 August 2016, rising 3.46% compared with Sensex's 1.68% rise. The scrip had also outperformed the market in past one quarter, gaining 12.59% as against Sensex's 5.99% rise.

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

Gujarat Pipavav Port (GPPL)'s net profit rose 60.45% to Rs 59.75 crore on 10.24% fall in net sales to Rs 154.67 crore in Q1 June 2016 over Q1 June 2015.

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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