Gujarat State Petronet jumps after strong Q1 results

Gujarat State Petronet rose 3.76% to Rs 129.75 at 9:34 IST on BSE after net profit rose 32.66% to Rs 112.76 crore on 10.95% rise in net sales to Rs 255.68 crore in Q1 June 2015 over Q1 June 2014.

The result was announced after market hours on Friday, 7 August 2015.

Meanwhile, the BSE Sensex was up 116.04 points, or 0.41%, to 28,352.43.

On BSE, so far 47,000 shares were traded in the counter, compared with an average volume of 91,716 shares in the past one quarter.

The stock hit a high of Rs 130.10 and a low of Rs 128.50 so far during the day. The stock hit a record high of Rs 136.90 on 17 July 2015. The stock hit a 52-week low of Rs 80 on 8 August 2014.

The stock had outperformed the market over the past one month till 7 August 2015, rising 4.56% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.86% as against Sensex's 6.16% rise.

The mid-cap company has an equity capital of Rs 563.05 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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