Gujarat Gas advances after good Q1 results

Gujarat Gas rose 2.04% to Rs 764 at 9:58 IST on BSE after net profit rose 39.4% to Rs 104.35 crore on 20.7% increase in net sales to Rs 1477.98 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 298.05 points, or 0.95% at 31,233.28.

On the BSE, 1,653 shares were traded on the counter so far as against the average daily volumes of 3,240 shares in the past one quarter. The stock had hit a high of Rs 778 and a low of Rs 752 so far during the day. The stock had hit a record high of Rs 880 on 18 April 2017 and a 52-week low of Rs 487.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 10 Aug 2017, declining 1.23% compared with the Sensex's 0.58% fall. The scrip had also underperformed the market over the past one quarter declining 4.34% as against the Sensex's 4.24% rise. The scrip had, however, outperformed the market over the past one year advancing 21.28% as against the Sensex's 13.52% rise.

The large-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.

Gujarat Gas is a city gas distribution company.

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