GSPL jumps 9%, logs biggest single-day gain since February 2021

Shares of Gujarat State Petronet (GSPL) rose as much as 9.4 per cent in Friday’s trade. The scrip recorded its biggest single-day gain since February 18, 2021. The stock also traded above all key DMA levels except 200-DMA.

At 12.14 pm, The scrip was trading 6.01 per cent higher at Rs 253.85 over its last day’s closing of Rs 239.45 a piece. However, the stock is down over 27 per cent in the past one year and 15 per cent on a year-to-date basis.

For the quarter ended June 30, 2022, the company reported consolidated net sales of Rs 5,669.6 crore, up 62.8 per cent from the year-ago quarter's Rs 3,481.6 crore. The company reported a net profit of Rs 648.1 crore for the latest quarter.

As per Trendlyne data, the highest target for GSPL goes up to Rs 169, while the average estimate of Rs 157 suggests an upside potential of around only one per cent from the current price.

Out of the two analysts covering the stock, one of them has a hold rating while another has a sell rating.

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