Gujarat State Petronet declines on weak Q2 results

Gujarat State Petronet fell 2.96% to Rs 59.10 at 13:39 IST on BSE after net profit fell 14.11% to Rs 114.06 crore on 1.60% fall in total income to Rs 291.03 crore in Q2 September 2013 over Q2 September 2012.

The result was announced after market hours on Wednesday, 13 October 2013.

Meanwhile, the BSE Sensex was up 244.15 points, or 1.21%, to 20,438.55.

On BSE, 59,000 shares were traded in the counter compared with average volume of 93,801 shares in the past one quarter.

The stock hit a high of Rs 60.90 and a low of Rs 59.10 so far during the day. The stock hit a 52-week high of Rs 81.75 on 77 January 2013. The stock hit a 52-week low of Rs 46.90 on 31 July 2013.

The stock had outperformed the market over the past one month till 13 November 2013, rising 7.31% compared with the Sensex's 1.63% fall. The scrip had also outperformed the market in past one quarter, gaining 11.64% as against Sensex's 5.02% rise.

The mid-cap company has an equity capital of Rs 562.73 crore. Face value per share is Rs 10.

Gujarat State Petronet (GSPL) was set up to complement the efforts of Gujarat State Petroleum Corporation (GSPC). While GSPC harnesses and procures natural gas, GSPL is building the infrastructure that transmits the gas across Gujarat and ultimately allows last-mile linkage to the end-user.

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