Petronet LNG drops after large bulk deal

Petronet LNG lost 2.8% to Rs 187.35 at 10:16 IST on BSE, after 5.19% equity changed hands in a bulk deal on BSE today, 26 September 2014.

A bulk deal of 3.90 crore shares was executed on the Petronet LNG counter at Rs 186.50 per share in opening trade on BSE today, 26 September 2014

Meanwhile, the S&P BSE Sensex was up 50.22 points or 0.19% at 26,518.58

Bulk deal boosted volume on the Petronet LNG counter. On BSE, so far 3.93 crore shares were traded in the counter as against average daily volume of 1.95 lakh shares in the past one quarter.

The stock hit a high of Rs 190.75 and a low of Rs 183.20 so far during the day. The stock had hit a record high of Rs 207.35 on 22 September 2014. The stock had hit a 52-week low of Rs 102.50 on 28 January 2014.

The stock had outperformed the market over the past one month till 25 September 2014, rising 8.65% compared with 0.12% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 6.2% as against Sensex's 4.56% rise.

The large-cap company has equity capital of Rs 750 crore. Face value per share is Rs 10.

Petronet LNG's net profit declined 30.5% to Rs 156.60 crore on 20.1% growth in net sales to Rs 10064.72 crore in Q1 June 2014 over Q1 June 2013.

Petronet LNG was formed as a joint venture by the Government of India (GoI) to import LNG and set up LNG terminals in the country.

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