Intraday Spotlight: GNFC hits fresh 52-week high, soars 5 per cent
Robust Q3 performance is driving the bullish mood!
Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC) stock has rallied by leaps and bounds in just a couple of days. Today, this trending stock has gone up from an opening price of Rs 515 to Rs 539, soaring by about 5 per cent. The stock has hit the list of top gainers in the BSE 500 index. The company was in the buzz yesterday as it had given a huge upside of 12.8 per cent on the BSE.
The company has come out with robust Q3 results which have been the driving force for the stock price. It witnessed a growth of 13.6 per cent sequentially in net sales to reach Rs 2,380 crore. The EBITDA too saw a rise of 56.4 per cent to Rs 674 crore. The profitability for the quarter went up 90.7 per cent on a QoQ basis to reach Rs 538 crore. It saw a healthy net profit margin of 22.62 per cent which expanded by 915 basis points over the previous quarter.
The stock created a fresh 52-week high of Rs 543.50. It has a 52-week low of Rs 221.