Petronet LNG hits record high after strong Q1 earnings

Petronet LNG rose 1.3% to Rs 357.80 at 12:00 IST on BSE after net profit surged 54.78% to Rs 377.86 crore on 36.28% decline in net total income from operations to Rs 5337.31 crore in Q1 June 2016 over Q1 June 2015.

The result was announced yesterday, 5 September 2016, during which the stock market was closed on account of Ganesh Chaturthi.

Meanwhile, the S&P BSE Sensex was up 283.65 points or 0.99% at 28,815.76.

On BSE, so far 99,000 shares were traded in the counter as against average daily volume of 71,081 shares in the past one quarter. The stock hit a high of Rs 366.30 so far during the day, which is a record high for the counter. The stock hit a low of Rs 356.50 so far during the day. The stock had hit a 52-week low of Rs 169.35 on 28 September 2015. The stock had outperformed the market over the past one month till 2 September 2016, surging 13.9% compared with Sensex's 1.97% rise. The scrip had also outperformed the market in past one quarter, jumping 28.46% as against Sensex's 6.29% rise.

The large-cap company has equity capital of Rs 750 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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