Petronet LNG gets stronger after posting strong Q2 results

Petronet LNG gained 2.84% to Rs 267.55 at 10:30 IST on BSE after net profit rose 28.1% to Rs 588.78 crore on 17.5% rise in net sales to Rs 7770.23 crore in Q2 September 2017 over Q2 September 2016.

The announcement was made after market hours yesterday, 8 November 2017.

Meanwhile, the S&P BSE Sensex was up 109.49 points, or 0.33% to 33,324.24.

On the BSE, 1.59 lakh shares were traded in the counter so far, compared with average daily volumes of 3.1 lakh shares in the past one quarter. The stock had hit a high of Rs 275 and a low of Rs 267.20 so far during the day. The stock had hit a record high of Rs 275.20 on 12 October 2017. The stock had hit a 52-week low of Rs 162.90 on 9 November 2016.

The stock had outperformed the market over the past one month till 8 November 2017, gaining 6.51% compared with the Sensex's 4.41% rise. The stock had also outperformed the market over the past one quarter, jumping 23.18% as against the Sensex's 3.76% rise. The scrip had also outperformed the market over the past one year, advancing 43.86% as against the Sensex's 20.4% rise.

The large-cap company has equity capital of Rs 1500 crore. Face value per share is Rs 10.

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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