Gujarat Gas drops after weak Q4 outcome

Gujarat Gas Company lost 2.66% to Rs 383.75 at 12:11 IST on BSE after consolidated net profit declined 16.88% to Rs 49.27 crore on 0.54% rise in total income from operations (net) to Rs 772.08 crore in Q1 March 2014 over Q1 March 2013.

The company announced the result after market hours on Thursday, 15 May 2014.

Meanwhile, the BSE Sensex was up 877.46 points, or 3.67%, to 24,800.79

On BSE, so far 30,879 shares were traded in the counter, compared with an average volume of 74,007 shares in the past one quarter.

The stock hit a high of Rs 405.10 and a low of Rs 381 so far during the day. The stock hit a 52-week high of Rs 426.20 on 21 April 2014. The stock hit a 52-week low of Rs 159 on 7 August 2013.

The stock had outperformed the market over the past one month till 15 May 2014, rising 10.31% compared with 6.32% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 71.34% as against Sensex's 17.38% rise.

The mid-cap company has an equity capital of Rs 25.65 crore. Face value per share is Rs 2.

Gujarat Gas Company, a subsidiary of GSPC Distribution Networks (GDNL), currently distributes approximately 2.8 million metric standard cubic meter per day (mmscmd) of natural gas.

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