Gujarat Industries powers ahead after commissioning two more generators

Gujarat Industries Power Company rose 1.24% to Rs 102.30 at 14:45 IST on BSE after the company commissioned two more wind turbine generators of 1.5 megawatts each at the Kotadapitha site, Taluka Babra, Dist. Amreli, Gujarat.

The announcement was made during market hours today, 8 December 2016.

Meanwhile, the S&P BSE Sensex was up 452.41 points or 1.72% to 26,684.08.

On the BSE, 10,476 shares were traded in the counter so far as against average daily volume of 50,429 shares in the past one quarter. The stock had hit a high of Rs 103.60 and a low of Rs 101.50 so far during the day. The stock had hit a 52-week high of Rs 110.05 on 11 November 2016. The stock had hit a 52-week low of Rs 74.40 on 15 March 2016.

The stock had outperformed the market over the past one month till 7 December 2016, gaining 1.25% compared with the Sensex's 4.45% fall. The scrip had also outperformed the market in past one quarter, gaining 13.67% as against the Sensex's 9.3% fall.

The power generation firm has equity capital of Rs 151.25 crore. Face value per share is Rs 10.

Gujarat Industries Power Company said that Gujarat Energy Development Agency (GEDA) issued certificate of commissioning for these wind turbine generators (WTGs).

With the commissioning of these two WTGs, the company has commissioned 15 megawatts wind mills at Kotadapitha site.

Gujarat Industries Power Company's net profit rose 1.7% to Rs 54.97 crore on 5.6% rise in net sales to Rs 352.53 crore in Q1 June 2016 over Q1 June 2015.

Gujarat Industries Power Company is engaged in the business of electrical power generation.

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