Gujarat State Petronet drops after uninspiring Q1 results

Gujarat State Petronet lost 3.24% to Rs 152.30 at 13:57 IST on BSE after net profit rose 7.5% to Rs 121.26 crore on 0.8% growth in net sales to Rs 257.85 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours on Friday, 9 September 2016.

Meanwhile, the S&P BSE Sensex was down 399.86 points or 1.39% at 28,397.39.

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 51,857 shares in the past one quarter. The stock hit a high of Rs 154.80 and a low of Rs 150.15 so far during the day. The stock had hit a 52-week low of Rs 108 on 23 September 2015. The stock had hit a record high of Rs 164.20 on 19 August 2016. The stock had outperformed the market over the past one month till 9 September 2016, gaining 15.99% compared with Sensex's 2.54% gain. The scrip had also outperformed the market in past one quarter, advancing 16.77% as against Sensex's 7.6% gain.

The mid-cap company has equity capital of Rs 563.42 crore. Face value per share is Rs 10.

Gujarat State Petronet (GSPL) is a pioneer in developing energy transportation infrastructure and connecting natural gas supply sources including LNG terminals to growing markets.

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