Selan Exploration races ahead on good Q1 show

DALAL STREET SPIKES

Selan Exploration Technology galloped 17.51 per cent to close at Rs 310.35 as the company’s net profit jumped about five times in the quarter ended June 2008. The net profits zoomed 478.57 per cent y-o-y to Rs 17.82 crore and the net sales increased 364.33 per cent y-o-y to Rs 35.80 crore in Q1 FY09.

The stock opened at Rs 255.25, the low of the day, and hit a new 52-week high of Rs 316.90. The counter witnessed volumes of 8,61,391 shares, about 3.5 times the two-week average. The stock has gained a whopping 72 per cent in the last one month.