Gujarat Alkalies gains after strong Q3 result

Gujarat Alkalies & Chemicals rose 2.59% to Rs 741 at 10:25 IST on BSE after net profit jumped 137.13% to Rs 112.21 crore on 26.45% rise in total income to Rs 627.54 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 6 February 2018.

Meanwhile, the S&P BSE Sensex was up 90.21 points or 0.26% at 34,286.15. The S&P BSE Mid-Cap index was up 190.30 points or 1.17% at 16,471.39

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 36,614 shares in the past one quarter. The stock hit a high of Rs 751 and a low of Rs 734 so far during the day. The stock had hit a record high of Rs 932.35 on 15 January 2018. The stock had hit a 52-week low of Rs 368.95 on 6 February 2017.

The stock had underperformed the market over the past one month till 6 February 2018, falling 9.04% compared with 0.46% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.16% as against Sensex's 2.94% rise. The scrip, however, outperformed the market in past one year, jumping 93.08% as against Sensex's 20.68% rise.

The mid-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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