Gujarat State Petronet Ltd fell 1.59% today to trade at Rs 229.6. The S&P BSE Oil&Gas index is down 0.45% to quote at 14738.79. The index is down 1.45 % over last one month. Among the other constituents of the index, Oil & Natural Gas Corpn Ltd decreased 1.08% and Indraprastha Gas Ltd lost 1.01% on the day. The S&P BSE Oil&Gas index went up 4.65 % over last one year compared to the 26.12% surge in benchmark SENSEX.

Gujarat State Petronet Ltd has added 8.84% over last one month compared to 1.45% fall in S&P BSE Oil&Gas index and 6.12% rise in the SENSEX. On the BSE, 7288 shares were traded in the counter so far compared with average daily volumes of 1.52 lakh shares in the past one month. The stock hit a record high of Rs 246.7 on 17 Feb 2020. The stock hit a 52-week low of Rs 146 on 24 Mar 2020.

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The Board of Gujarat State Petronet (GSPL) at its meeting held on 10 February 2021 has approved the additionalEquity Contribution of Rs. 205 crore in its Joint Venture company GSPL India Gasnet (GIGL).

Presently, GSPL holds 52% in GIGL and would continue tohold 52% after this additional Equity Contribution in GIGL. Hence, there will be nochange in terms of percentage of Shareholding by GSPL in GIGL.

GIGL is a Subsidiary of GSPL with other Joint Venture Partners being IOCL (26%),BPCL (11%) & HPCL (11%). GIGL is engaged in the execution of the Cross -Country Natural Gas Transmission Pipeline Projects namely: Mehsana - BhatindaPipeline Project and Bhatinda - Jammu - Srinagar Pipeline Project awarded byPetroleum and Natural Gas Regulatory Board.

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Net profit of Gujarat State Petronet rose 47.79% to Rs 470.45 crore in the quarter ended December 2020 as against Rs 318.32 crore during the previous quarter ended December 2019. Sales rose 8.43% to Rs 3282.56 crore in the quarter ended December 2020 as against Rs 3027.25 crore during the previous quarter ended December 2019.

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Gujarat State Petronet will hold a meeting of the Board of Directors of the Company on 10 February 2021.

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