GPPL slips after bulk deal

Gujarat Pipavav Port fell 1.39% to Rs 170.10 at 15:23 IST on BSE after a bulk deal of 17.78 lakh shares was executed on the scrip at Rs 176 per share in opening trade on BSE.

Meanwhile, the S&P BSE Sensex was up 245 points, or 0.86%, to 28,770.33

Bulk deal boosted volume in the Gujarat Pipavav Port (GPPL) scrip. On BSE, so far 19.40 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 185 and a low of Rs 170.05 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 underperformed the market over the past 30 days till 21 September 2016, falling 1.14% compared with 1.85% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.83% as against Sensex's 5.57% 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.

Powered by Capital Market - Live News