Gujarat Alkalies drops after poor Q1 result

Gujarat Alkalies & Chemicals lost 6.35% to Rs 168 at 15:03 IST on BSE after net profit declined 22.8% to Rs 43.99 crore on 4.3% fall in net sales to Rs 472.56 crore in Q1 June 2015 over Q1 June 2014.

The result was announced at fag end of the day's trading session yesterday, 28 July 2015. The stock had rose 3.16% to settle at Rs 179.40 yesterday, 28 July 2015.

Meanwhile, the S&P BSE Sensex was up 101.89 points or 0.37% at 27,561.12

On BSE, so far 85,000 shares were traded in the counter as against average daily volume of 19,517 shares in the past one quarter.

The stock hit a high of Rs 172.30 and a low of Rs 166 so far during the day. The stock had hit a 52-week high of Rs 229.80 on 12 September 2014. The stock had hit a 52-week low of Rs 156.05 on 27 March 2015.

The stock had outperformed the market over the past one month till 28 July 2015, rising 8.66% compared with Sensex's 1.27% decline. The scrip also outperformed the market in past one quarter, gaining 5.68% as against Sensex's 0.23% gain.

The small-cap company has equity capital of Rs 73.44 crore. Face value per share is Rs 10.

Gujarat Alkalies & Chemicals is the largest producer caustic soda in India.

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