GSFC slumps after reporting weak Q4 results

Gujarat State Fertilizers & Chemicals slumped 6.4% to Rs 74.55 at 10:45 IST on BSE after net profit dropped 49.5% to Rs 32.57 crore on 30.2% rise in total income to Rs 1715.30 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 24 May 2016.

Meanwhile, the BSE Sensex was up 354.95 points, or 1.36%, to 25,649.36.

More than usual volumes were witnessed on the counter. On BSE, so far 3.44 lakh shares were traded in the counter, compared with an average volume of 1.8 lakh shares in the past one quarter. The stock hit a high of Rs 75 and a low of Rs 71.55 so far during the day. The stock hit a 52-week high of Rs 86.70 on 4 January 2016. The stock hit a 52-week low of Rs 57.65 on 12 February 2016. The stock had outperformed the market over the past one month till 24 May 2016, gaining 8.51% compared with Sensex's 2.06% fall. The scrip had also outperformed the market in past one quarter, jumping 32.31% as against Sensex's 9.6% rise.

The mid-cap company has an equity capital of Rs 79.70 crore. Face value per share is Rs 2.

Gujarat State Fertilizers & Chemicals (GSFC) said that the board of directors of the company at a meeting held yesterday, 24 May 2016, recommended a dividend of Rs 2.20 per share for the year ended 31 March 2016 (FY 2016).

GSFC is engaged in manufacturing and marketing fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.

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