Gujarat State Petronet Ltd Share Price – NSE /  BSE

Gas Distribution, Small Cap

Gujarat State Petronet announced that the Annual General Meeting (AGM) of the company will be held on 19 September 2024.

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Shares of the Gujarat State Petronet surged 24.25% in seven trading sessions from its recent closing low of Rs 318.55 on 16 August 2024.

On the BSE, 17.77 lakh shares were traded in the counter so far compared with average daily volumes of 1.22 lakh shares in the past two weeks. The stock hit a high of Rs 407.05 and a low of Rs 379.80 so far during the day.

The stock hit a 52-week high of Rs 407.30 on 8 February 2024. The stock hit a 52-week low of Rs 254.75 on 1 November 2023.

The stock had outperformed the market over the past one month, rising 19.18 % as against Sensex's 0.48% increase.

The scrip had outperformed the market in past three months, advancing 33.92 % as against 8.37% jump in Sensex.

However, the counter had outperformed the market in past one year, climbing 42.07 % as against Sensex's 25.94 % surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 82.048. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 322.04, 317.73 and 322.68, respectively. These levels will act as crucial support zones in near term.

Gujarat State Petronet is primarily engaged in transmission of natural gas through pipeline on an open access basis from supply points to demand centers. Further, the company is also engaged in business of city gas distribution, trading of natural gas and generation of electricity through windmills.

The company’s consolidated net profit grew 11.9% to Rs 374.97 crore on 15.1% increase in net sales to Rs 4727.01 crore in Q1 FY25 over Q1 FY24.

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Net profit of Gujarat State Petronet rose 11.92% to Rs 374.97 crore in the quarter ended June 2024 as against Rs 335.04 crore during the previous quarter ended June 2023. Sales rose 15.06% to Rs 4727.01 crore in the quarter ended June 2024 as against Rs 4108.33 crore during the previous quarter ended June 2023.

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Gujarat State Petronet will hold a meeting of the Board of Directors of the Company on 8 August 2024.

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