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GSFC drops 8% after poor Q4 results

GSFC drops 8% after poor Q4 results

Gujarat State Fertilizers and Chemicals dropped 8% to Rs.73. The company reported a 49.50% drop in its net profit at Rs.32.57 crore for the quarter ended March 31, due to higher expenses.

Gujarat State Fertilizers & Chemicals Ltd ended at Rs. 73.35, down by Rs. 6.3 or 7.91% from its previous closing of Rs. 79.65 on the BSE.

The scrip opened at Rs. 74.05 and touched a high and low of Rs. 75.75 and Rs. 71.55 respectively. A total of 3696110(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3174.05 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 86.7 on 04-Jan-2016 and a 52 week low of Rs. 57.65 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 84 and Rs. 78.05 respectively.

The promoters holding in the company stood at 37.84 % while Institutions and Non-Institutions held 34.81 % and 27.34 % respectively.

The stock traded above its 50 DMA.

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