This mid-cap stock gained by more than 17 per cent intraday, touches all-time high
The shares of the buzzing mid-cap stock, Gujarat Gas jumped by around 14.14 per cent to touch its all-time high of Rs 449 per share on Monday. The shares of the company gained on strong Q3FY21 performance reported by the company.
For Q3FY21, the company’s total income rose by 12.48 per cent to Rs 2,905.32 crore when compared to Rs 2,582.90 crore reported for Q3FY20. PBT jumped by 98.4 per cent to Rs 524.08 crore in Q3FY21 from Rs 264.15 crore in Q3FY20. Higher volume growth across all business segments of Gujarat Gas led to the company gaining a net profit of Rs 392.30 crore in Q3FY21, increasing by 98.7 per cent compared to the net profit of Rs 197.30 crore posted in Q3FY20.
The company is currently said to have a comfortable liquidity position with prepaid term loans of around Rs 988 crore during 9MFY21, while it continues to service its debt obligations. It reported that the long-term debt has reduced by 54 per cent.
During the period of 9MFY21, Gujarat Gas has added 91 CNG stations and expects to add 160 more stations, going forward.
The shares of Gujarat Gas have gained by around 38.15 per cent per share in the last six months while the scrip has more-than-doubled from its low made in March 2020.
Gujarat Gas is one of the top small-cap index gainers today. At 1.22 pm, it was trading at Rs 445.10, up by 17.21 per cent against its previous close of Rs 379.75 on BSE.