Petronet LNG gains after strong Q4 result, bonus shares

Petronet LNG rose 1.66% to Rs 435.95 at 10:10 IST on BSE after the company's board of directors declared issue of liberal 1:1 bonus shares.

The announcement was made after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 258.66 points, or 0.86% to 30,192.11

On the BSE, 2.09 lakh shares were traded in the counter so far, compared with average daily volumes of 2.04 lakh shares in the past one quarter. The stock had hit a high of Rs 448.60 and hit a low of Rs 434.50 so far during the day. The stock hit a record high of Rs 453.65 on 21 April 2017. The stock hit a 52-week low of Rs 253.10 on 24 May 2016.

The stock had outperformed the market over the past one month till 9 May 2017, rising 3.85% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.09% as against Sensex's 5.81% rise.

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

Petronet LNG's net profit surged 93.74% to Rs 470.79 crore on 20.87% increase in net sales to Rs 7,191.99 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 9 May 2017.

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

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