Gujarat Apollo surges after turnaround in Q1

Gujarat Apollo Industries jumped 7.64% to Rs 195.75 at 10:52 IST on BSE after the company reported net profit of Rs 10.45 crore in Q1 June 2017, compared with net loss of Rs 0.37 crore in Q1 June 2016.

The result was announced after market hours yesterday, 29 August 2017.

Meanwhile, the S&P BSE Sensex was up 227.06 points, or 0.72% at 31,615.45. The S&P BSE Small-Cap index was up 221.18 points, or 1.41% at 15,877.20.

High volumes were witnessed on the counter. On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 7,760 shares in the past one quarter. The stock had hit a high of Rs 207 so far during the day, which is also its 52-week high. The stock hit a low of Rs 189.20 so far during the day. The stock had hit a 52-week low of Rs 118.55 on 29 September 2016.

The stock had outperformed the market over the past one month till 29 August 2017, sliding 0.25% compared with the Sensex's 2.85% fall. The scrip had also outperformed the market over the past one quarter gaining 5.91% as against the Sensex's 0.9% rise. The scrip had also outperformed the market over the past one year advancing 50.04% as against the Sensex's 12.49% rise.

The small-cap company has equity capital of Rs 13.66 crore. Face value per share is Rs 10.

Gujarat Apollo Industries' net sales rose 2.6% to Rs 20.27 crore in Q1 June 2017 over Q1 June 2016.

Gujarat Apollo Industries manufactures and exports construction and mining equipments.

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