GSFC drops after poor Q3 results

Gujarat State Fertilizers & Chemicals lost 0.82% to Rs 48.20 at 11:59 IST on BSE after net profit fell 25.9% to Rs 101.20 crore on 15.7% decline in net sales to Rs 1458.40 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced after market hours on Wednesday, 29 January 2014.

Meanwhile, the S&P BSE Sensex was down 219.50 points or 1.06% at 20,427.80.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 65,688 shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.67% at the day's low of Rs 47.30 so far during the day. The stock rose as much as 2.88% at the day's high of Rs 50 so far during the day. The stock had hit a 52-week high of Rs 67.20 on 31 January 2013. The stock had hit a 52-week low of Rs 44.20 on 28 August 2013.

The stock had underperformed the market over the past one month till 29 January 2014, sliding 10.91% compared with the Sensex's 2.58% fall. The scrip had also underperformed the market in past one quarter, sliding 16.49% as against Sensex's 1.35% fall.

The small-cap fertilizer maker has equity capital of Rs 79.70 crore. Face value per share is Rs 2.

Gujarat State Fertilizers & Chemicals (GSFC) is engaged in manufacturing and marketing fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.

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