Gujarat Fluorochemicals spurts on bargain hunting

Gujarat Fluorochemicals rose 14.77% to Rs 493.85 at 13:12 IST on BSE on bargain hunting after the stock slumped 14.90% in the preceding seven trading sessions to Rs 430.30 on 25 January 2016, from a recent low of Rs 505.65 on 14 January 2016.

Meanwhile, the BSE Sensex was up 95.82 points, or 0.39%, to 24,581.77.

On BSE, so far 27,000 shares were traded in the counter, compared with an average volume of 12,321 shares in the past one quarter. The stock hit a high of Rs 494.90 and a low of Rs 435 so far during the day. The stock hit a 52-week high of Rs 807 on 10 March 2015. The stock hit a 52-week low of Rs 430 on 25 January 2016. The stock had underperformed the market over the past one month till 25 January 2016, sliding 22.26% compared with 5.24% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 35.91% as against Sensex's 10.87% fall.

The mid-cap company has an equity capital of Rs 10.99 crore. Face value per share is Re 1.

Gujarat Fluorochemicals announced during trading hours today, 27 January 2016, that its step-down subsidiary, Inox Wind Infrastructure Services, acquired 100% equity shares of Vinirrmaa Energy Generation with effect from 23 January 2016. Accordingly, Vinirrmaa Energy Generation has become step-down subsidiary of Gujarat Fluorochemicals.

On a consolidated basis, net profit of Gujarat Fluorochemicals declined 1.96% to Rs 104.32 crore on 41.63% rise in net sales to Rs 1776.52 crore in Q2 September 2015 over Q2 September 2014.

Gujarat Fluorochemicals (GFL) is engaged in business of chemicals, fluoropolymers and renewable energy. GFL also owns and operates an entertainment business through INOX Leisure.

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